Peace talks that could bring an end to America's war in the Middle East are now underway - as President Donald Trump declared that Iran is 'losing big' in a scorched-earth Truth Social post.

The President claimed that US and allied forces have effectively wiped out Iran's Navy, Air Force, and leadership. He also took a swipe at global allies, claiming they lack the 'courage or will' to clear the strategic Strait of Hormuz - a task he says the US is now doing as a 'favor' to the world.

'Most importantly, their longtime 'Leaders' are no longer with us, praise be to Allah! The only thing they have going is the threat that a ship may 'bunk' into one of their sea mines which, by the way, all 28 of their mine dropper boats are also lying at the bottom of the sea,' Trump wrote.

US officials report that Iran has lost track of several naval mines deployed in the Strait of Hormuz, creating a significant hazard in the strategic waterway.

The mines were laid haphazardly without proper documentation of their locations. This lack of precision has resulted in drifting explosives that officials say could hinder efforts to safely reopen the channel to international traffic, according to reports provided to the New York Times.

The situation is further complicated by a lack of resources, as neither Washington or Tehran possesses the mine-sweeping capabilities required for a rapid cleanup. There are concerns that Iran may be intentionally withholding the coordinates of the devices to use as leverage for securing concessions during negotiations.

Earlier this morning, Trump revealed that official peace talks with Iran have started - and declared that ships across the globe are heading to the United States to 'load up with oil.'

Trump touted America's domestic oil and gas supply following a recent post on his Truth Social platform, in a phone interview with NewsNation on Saturday morning.

The remarks come amid heightened global anxiety over the blockaded Strait of Hormuz, a critical chokepoint for the world's energy shipments.

'Take a look out of the great seas of our world many of them heading to the United States to load up with oil, we have plenty of it,' Trump stated during the call.

The president clarified that America's booming oil activity isn't solely due to Iran's refusal to open the Strait of Hormuz, predicting that the vital waterway will be open in the 'not too distant future.'

Taking a direct swipe at Tehran, Trump branded Iran a 'failing nation.'

However, he also hinted at new strategic workarounds for the global oil trade that would bypass the troubled waters of the Middle East entirely.

'I think people are seeing there are other alternatives to going through the Strait,' Trump noted.

When pressed on whether diplomatic talks with Iran have officially started, Trump gave a definitive 'yes.' 

Asked if he feels the Iranians are acting in good faith during these high-stakes negotiations, Trump offered a cryptic but confident timeline for when the world will find out.

'I'll let you know that in a very short period of time, won't take long,' he said.

The call follows Trump's latest Truth Social post highlighting US energy dominance as tensions in the Middle East continue to threaten global supply chains.

A Pakistani source confirms that Witkoff, Vance, and Kushner are holding face-to-face talks with Iranian officials Qalibaf and Araqchi, as well as Pakistan's army chief. 

On Thursday, Trump blasted Tehran's handling of the waterway, writing: 'Iran is doing a very poor job, dishonorable some would say, of allowing Oil to go through the Strait of Hormuz. That is not the agreement we have!'

He specifically addressed reports that Iran has been attempting to extort tankers, warning: 'There are reports that Iran is charging fees to tankers going through the Hormuz Strait — They better not be and, if they are, they better stop now!'

Trump concluded the post with a display of energy independence, stating: 'You'll see Oil start flowing, with or without the help of Iran and, to me, it makes no difference, either way.'

Tehran has said it needed a 'definitive end to the conflict', outlining its need for the 'end to conflicts in the region, a protocol for safe passage through the Strait, reconstruction and the lifting of sanctions.' 

Iran has claimed the United States has agreed to release billions in frozen assets, but the administration has swiftly denied any such move as JD Vance holds these high-stakes peace talks in Islamabad.

A senior Iranian source said the US had agreed to unfreeze funds held in Qatar and other foreign banks, describing it as a sign of Washington's 'seriousness' in negotiations.

But a US official quickly rejected the claim, underlining the deep mistrust hanging over the talks.

Unfreezing the assets was also said to be directly linked to ensuring safe passage through the Strait of Hormuz.

According to Iranian state media, Tehran has already set out its 'red lines' for any deal, including guarantees over the Strait of Hormuz, the payment of war reparations, the release of blocked assets and a ceasefire across the wider region.