Former President Donald Trump claimed on Wednesday that he received information from “very important sources on the other side” indicating a decrease in violence during the ongoing crackdown in Iran.

His remarks caused a shift in the markets, with oil prices dropping from their recent highs and gold prices retreating from a record peak on Thursday. Trump has consistently threatened to support Iranian protesters, as the nation’s clerical authorities have aggressively suppressed widespread demonstrations since December 28.

Nonetheless, the United States intensified its pressure on Iran by implementing sanctions against five Iranian officials accused of orchestrating the crackdown. Additionally, the U.S. announced it was closely monitoring the financial movements of Iranian leaders’ assets to international banks.

The group of seven countries has expressed readiness to impose further sanctions on Iran if the government continues its oppressive actions against protesters.

Diplomatic efforts over the past 48 hours involved Saudi Arabia, Qatar, Oman, and Egypt. However, on Thursday, Trump indicated that he had decided against launching an immediate attack, citing a reduction in violence as his reason.

Four Arab states call for de-escalation

Saudi Arabia, Qatar, Oman and Egypt were involved in the diplomacy over 48 hours before Trump signalled on Thursday that he had ultimately decided against an attack for now, saying the killings in Iran were easing.