US President Donald Trump reiterated his hints on Tuesday that he would lift economic sanctions on Iran, describing Iranians as"very good traders and businessmen," according to the Associated Press.

“As you know, the Iranians are very good traders, very good businessmen, they have a lot of oil, they should be fine, they should be able to rebuild and do a good job,” Trump said aboard Air Force One as he headed to the NATO summit in The Hague, Netherlands. “They will never have a nuclear weapon, but other than that they should do a great job.”

Earlier today, Trump, in what appeared to be a long-awaited move to lift decades-old economic sanctions on Iran, said on his Truth Social account:"China can now continue to buy oil from Iran. Hopefully, they will buy large quantities from the United States as well. It was a great honor to make this happen."

A short while ago, the US President announced that Israel would abide by the ceasefire with Iran after Tel Aviv violated the agreement with Tehran, holding the occupying state primarily responsible.

For more than four decades, Iran has been subjected to Western sanctions, led by Washington, that have affected various sectors of its economy, following the 1979 revolution that overthrew the Shah.

In 1987, US President Ronald Reagan banned Iranian imports and reduced some of his country's exports to Iran due to attacks on US ships in the Gulf. In 1995, the administration of US President Bill Clinton imposed a trade and financial blockade on the accusation that Iran was seeking to acquire weapons of mass destruction. Similar steps were taken by successive administrations.

Announcement of a ceasefire between Iran and Israel

Trump had previously taken a sharp tone against Israel regarding the ceasefire violation with Iran, although he also held Iran responsible, albeit to a lesser extent. Moments later, Channel 12 revealed that Trump had held Netanyahu on the phone.

Shortly after, the US President said on his Truth Social platform,"Israel will not attack Iran. All aircraft will return to Iran in a friendly salute."