"No possible confrontation or warlike action is envisaged (by Spain) and it is for this reason that the participation is suspended for the moment," he added.
Last Friday, the Pentagon announced the deployment of the amphibious assault ship the USS Arlington and a Patriot missile battery to the region.
But the newspaper said it would cross the strait without the Spanish frigate. "Spain does not want to be dragged involuntarily into a conflict with Iran," the paper reported.
The spike in tensions comes a week after Iran announced it was suspending some of its commitments under the 2015 nuclear agreement. That came a year after President Donald Trump withdrew from the accord and slapped tough sanctions on the Islamic republic.
On Sunday and Monday, US allies Saudi Arabia and the United Arab Emirates said oil tankers belonging to them had been damaged in "sabotage attacks" in the Gulf. Neither country released further details.
No link has officially been drawn between the incidents and US accusations concerning "imminent" attacks by Tehran against US interests in the region. Britain, France and Germany on Monday urged the US not to further escalate tensions over the Iran nuclear deal.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)