BlockBeats News, August 20th. According to the U.S. financial media Semafor, President Trump's latest move to avoid escalating military action in Iran comes as the U.S. believes that talks between Iran and Oman (previously seen as a rare and productive negotiation channel) have reached a deadlock. A U.S. official and a White House official stated that the U.S. government believes that the Iran-Oman talks collapsed weeks ago. These talks had proposed the possibility of reaching a toll agreement in the Strait of Hormuz, which left Trump frustrated. The Omani Embassy has not responded to the U.S. view of their negotiations.

However, Trump currently describes the situation with Iran as "very good" and optimistically believes that economic pressure can force Tehran back to the negotiating table, even though he has ruled out future talks in the foreseeable future. Last night, Trump took to social media to threaten an "economic war" against Iran, stating that the U.S. will impose sanctions on any country engaging in business with Tehran. (FXStreet)