President Donald Trump announced that he would stop bombing Yemen’s Iran-backed Houthis, because he received assurances that the U.S.-designated terrorist group would stop attacking U.S. vessels.

Trump announced the agreement in the Oval Office, during a press availability with Canadian Prime Minister Mark Carney this afternoon.

“The Houthis have announced, to us at least, that they don’t want to fight anymore. They just don’t want to fight, and we will honor that, and we will stop the bombings. They have capitulated.”

Responding to questions from reporters, Trump said that no formal deal had been reached but that he received assurances through “a very good source.”

The Houthis began targeting American ships in the Red Sea in November 2023, which it described as retaliation for Israel’s campaign in Gaza.

Trump stepped up U.S. efforts targeting the terrorist group, ordering strikes that have killed dozens of people, including Houthi leaders, the White House has said.

The U.S. campaign against the Houthis has cost the military close to $1 billion, CNN reported last month. American forces have used expensive Tomahawk missiles and long-range cruise missiles.

Iran provides the group military, financial, and intelligence support.

The Trump administration designated the Houthis a Foreign Terrorist Organization and the Specially-Designated Global Terrorist Group earlier this year, overturning the Biden-era de-listing of the organization as an FTO.