US President Donald Trump said he decided to pause expanded US military strikes on Iran in order to allow negotiations to continue, but warned that military action could resume if diplomatic efforts do not succeed.
Speaking in an interview with Axios, Trump said the negotiations are currently focused on reaching a new agreement that would reopen the Strait of Hormuz and restart talks on a broader nuclear deal.
"We are in very deep talks with Iran. If they don't work out, we will go back to very strong military action," the President said.
When asked how much time he was prepared to allow for diplomacy, Trump replied, "Not much time. Either it goes fast or not at all."
Trump said he decided on Friday to halt the strikes after countries involved in mediation urged him to give the negotiations another opportunity.
"All of the people that deal with Iran asked me: 'Don't fire,'" Trump said, adding that he believes Iran wants to reach an agreement.
Explaining his decision, Trump said, "Nothing gained, nothing lost."
He also noted that oil prices fell and the stock market rose after the pause in military action.
Trump is scheduled to meet Israeli Prime Minister Benjamin Netanyahu at the White House on Tuesday.
"I am going to talk to Bibi about the fact that if I weren't president, Iran would have had nuclear weapons by now and Israel would have been destroyed," Trump said.