UPDATED: US President Donald Trump announced on March 23 that he had ordered a five-day suspension of planned strikes on Iranian power plants and energy infrastructure, he said on social media.

The American president said the US and Iran had held "very good and productive conversations" over the preceding two days aimed at a "complete and total resolution" of the conflict.

The announcement came just hours before Trump's 48-hour ultimatum for Iran to reopen the Strait of Hormuz was due to expire, averting what would have been a major escalation that Iran had warned would trigger "irreversible" destruction of Gulf energy infrastructure.

"Based on the tenor and tone of these in depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions," Trump wrote on Truth Social.

The disclosure that the US and Iran have been in direct communication marks a significant shift. IAEA chief Rafael Grossi said on March 18 that he did not believe Iran would negotiate while the military campaign continued.

Iran's foreign minister, Abbas Araghchi, and its ambassador to Germany both said Tehran was open to diplomacy but demanded guarantees and compensation.

It was not immediately clear through which channel the talks were conducted. Belarus's President Lukashenko said on March 20 he had submitted a mediation plan to the Trump administration.

Oman, which hosted pre-war nuclear talks, has also been praised by Gulf states for its role in diplomacy.

The five-day window, if held, would expire on March 28. Military operations against other Iranian targets were not mentioned in the statement.

Oil prices and global markets will be watching closely for signs that the pause extends beyond energy infrastructure to a broader ceasefire. Brent crude had been trading above $113 per barrel, with analysts warning prices could reach $200 if the energy war intensified further.