U.S. President, Donald Trump, has announced a suspension of the planned attacks on Iran, saying the latter has 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.

Mr Trump, who said the decision was subject to a rapid finalisation of the deal, added, “The Country of Israel joins me in this commitment. Get to work, everybody, and get it done.”

He noted that Iran and other Middle Eastern countries had asked him to hold off on the attack, which, he said, would have been conducted at “levels of Military Terror, Strength, and Power not seen since World War II.”

Mr Trump said the new deal would lead to reopening of the Strait of Hormuz completely and neutralise Iran’s nuclear threat.

Mr Trump’s decision to suspend the planned attacks came amid U.S.-Iran tensions, particularly over the Strait of Hormuz, as the virtual closure of the route, continues to take a toll on the global economy.

There were also reports that the U.S and Israel might have been planning new, intense strikes on Iran.

The latest decision was not the first time Mr Trump had issued apocalyptic warnings but later insisted that diplomacy was under consideration.

Meanwhile, Iran’s authorities had promised retaliation in case of threatened attacks by the U.S. against critical energy infrastructure amid military strikes across the region.

“The United States is moving at an accelerating pace to fan the flames of a full-scale regional war. It is hereby stated explicitly: Muslim countries must, with foresight, monitor America’s crimes and reconsider their cooperation and alignment with the US. Otherwise, any country that makes itself a defensive shield for criminal, aggressor America will burn in the fire of war,” Major General Ali Abdollahi, head of Iran’s wartime military command, said in a statement on Saturday.