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Donald Trump has backed down on his threats to bomb Iran’s power plants after citing “very good and productive” talks with regime officials. Tehran denied it was trying to cut a deal, while many US observers suspect that Trump wants an out. Iran had promised to retaliate for any attack on its plants by hitting Gulf energy facilities and desalination plants, which would have caused lasting damage to the global economy. Stocks rallied and the price of oil fell sharply on Trump’s announcement, even though Iran may still opt to prolong the conflict in an attempt to humiliate the US. The White House’s major war goal is reportedly no longer regime change but reopening the Strait of Hormuz. Reminder: it was open before Iran and Israel invaded.
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