Iran has denied Donald Trump’s claim that new talks on ending the conflict would begin on Monday.

“We are not currently negotiating with the United States. Our negotiations are with Oman to secure passage through the Strait of Hormuz,” spokesperson for Iran’s foreign ministry Esmaeil Baghaei said on Monday.

Mr Baghaei added that there were no ongoing negotiations nor any plans to do so.

The denial came after the U.S. president announced a suspension of the planned attacks on Iran, saying the Iranian government had agreed to the perimeters of a new deal.

“Based on the request, I have agreed, for the future benefit of the world and, likewise, the survival of a prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL,” Mr Trump said in a statement on Sunday.

The exchange came amid U.S.-Iran tensions, particularly over the blockade of the Strait of Hormuz, which is taking a toll on the global economy.

The Organisation of the Petroleum Exporting Countries (OPEC), in a statement issued after the 67th meeting of its Joint Ministerial Monitoring Committee, said the disruption of the Strait of Hormuz increased market volatility and weakened efforts to support crude oil market stability.