Trump declares Iran ceasefire over after US strikes 80 targets and Iran retaliates; oil surges 6%
President Trump declared the Iran ceasefire dead at the NATO summit in Ankara, hours after US forces struck over 80 targets in Iran and Tehran retaliated against American bases in Kuwait and Bahrain.
Trump declares ceasefire dead
President Donald Trump, speaking at the NATO summit in Ankara on Wednesday, said the preliminary peace agreement with Iran is over.
He called Iranian leaders "scum" and "sick people," adding that he does not want to deal with them. Trump also ordered the Treasury Secretary to halt all trade with Spain, calling the country a "terrible NATO partner."For me, it's over. If it were up to me, it was just a waste of time.
Overnight US strikes
US Central Command said forces attacked over 80 targets in Iran overnight, using precision munitions. The strikes hit air defense systems, radar stations, command and control networks, anti-ship missile capabilities, and more than 60 small boats belonging to the Islamic Revolutionary Guard Corps in and near the Strait of Hormuz. A senior US official told the Wall Street Journal the operation was four to five times larger than previous strikes after the June 17 preliminary agreement, and was meant to send a strong signal. CENTCOM stated:
Unjustified aggression by Iranian forces constitutes a clear and dangerous violation of the ceasefire and undermines freedom of navigation.
- Iran fires missiles at two commercial ships in the Strait of Hormuz, causing significant damage.
- Trump approves strike plan during NATO summit in Turkey; US Treasury revokes license for Iranian oil sales.
- US forces strike over 80 targets in Iran, including air defenses and IRGC boats.
- Iran retaliates with attacks on US bases in Kuwait and Bahrain, claims to shoot down MQ-9 drone.
- Trump declares ceasefire over at NATO summit, calls Iranian leaders 'scum'.
Iran retaliates
Iran's Revolutionary Guard said it attacked 85 "strategic American military targets," including the US Fifth Fleet base in Bahrain and an airport used by American forces in Kuwait. Iran claimed to have shot down a US MQ-9 drone. Kuwait's military reported repelling missile and drone attacks, while sirens and explosions were heard in Bahrain. Iran warned of a "crushing" response and said it will not allow interference in the management of the Strait of Hormuz.
Oil and markets react
Oil prices jumped over 6%, with West Texas Intermediate at $72.71 per barrel and Brent at $76.53. The US Treasury revoked the license that had allowed Iranian oil sales, reimposing sanctions. European stock indices fell 1.5 to 2 percent, and US futures, gold, and cryptocurrencies also declined. Daniela Hathorn of Capital.com said renewed Middle East tensions forced investors to reprice geopolitical risk. Michael Field of Morningstar noted that negative news is pushing markets down and the absence of major earnings reports leaves no respite.
Diplomatic fallout
Iran's chief negotiator Mohammad Bagher Ghalibaf accused the US of violating the agreement, citing new strikes, renewed sanctions, threats, and Israeli attacks on Lebanon.
The preliminary deal, signed June 17, was meant to lead to a final agreement within 60 days, but negotiations were suspended for the funeral of Supreme Leader Ali Khamenei, killed on the first day of the war. A key dispute is control of the Strait of Hormuz, through which about 20% of global oil and LNG passed before the war. Iran blocked the strait after the war began; the agreement called for free navigation with Omani cooperation, but Iran seeks full control.The time of intimidation and extortion is over. This leads nowhere. We will not bend.
