United States President Donald Trump has announced a temporary pause to the US military’s “Project Freedom” operation to reopen the Strait of Hormuz, saying “great progress” had been made towards a potential agreement with Iran.

Trump said the operation would be suspended for “a short period” to see whether a “complete and final agreement” with Tehran could be reached, despite ongoing tensions in the Gulf.

Iranian President Masoud Pezeshkian, meanwhile, accused Washington of pursuing a policy of “maximum pressure” and expecting Iran to submit to unilateral demands.

Here is what we know: