Trump says the US does not need a deal with Iran

President Trump wrote on Truth Social on Thursday that the United States does not need a deal with Iran, saying Washington holds Iran's money and its strait, and he redirected Vice President Vance from the Iran file to domestic corruption and crime.

Why it matters: The post pulls the US negotiating track out from under the ninth month of the US-Iran war just as Vance was reported to be weighing face-to-face talks with a senior Iranian official, and oil rose on the prospect that the war and the Hormuz standoff run longer.

Data as of CNBC reports of November 12, 2026, read in full via the estate browser route, quoting President Trump's Truth Social post of Thursday morning, November 12, 2026; oil prices as reported by CNBC the same morning. No Iranian response to the post had been reported as of this item. Developing item.

President Trump wrote on Truth Social on Thursday morning that “we don’t need a deal with Iran” and that “those days have long since passed,” adding that the United States has Iran’s money, “hundreds of billions of dollars, and we’ve got their Strait,” a reference to the Strait of Hormuz. In the same post he said he has asked Vice President Vance to focus his complete attention on corruption and crime in Democrat-run cities and states, a day after the Wall Street Journal reported Vance was considering face-to-face talks with a top Iranian security official.

Oil rose on the comments: Brent crude traded 1.6% higher at $94.25 a barrel and West Texas Intermediate gained 1.3% to $87.62, CNBC reported, while US stock futures declined. No Iranian response to the post had been reported as of Thursday morning.

Trump says the US does not need a deal with Iran

Sources