Trump Declares Interim Iran Ceasefire Deal “Over” Following Fresh Iranian Strikes

Trump described his negotiations with Iran as “a waste of time.”

U.S. President Donald Trump declared on Wednesday that the interim agreement aimed at ending the war with Iran had come to an end, following fresh Iranian attacks on American bases in the Gulf region.

Tensions escalated sharply as Iran claimed responsibility for striking U.S. military installations in Bahrain and Kuwait, coming in retaliation for American strikes on Iranian targets that were themselves a response to attacks on tankers passing through the Strait of Hormuz.

The exchange sent oil prices soaring.

The latest clashes further destabilized an already fragile ceasefire and cast doubt on efforts to convert the June 17 memorandum of understanding into a lasting peace agreement, a war that originally erupted following joint U.S.-Israeli airstrikes on Iran on February 28.

MARKETS REACT: OIL SURGES, STOCKS SLIDE

Speaking ahead of a NATO summit in Turkey, Trump was asked directly whether the memorandum of understanding was finished.

He responded: “It’s a very interesting question. To me, I think it’s over. I don’t want to deal with them.”

“They’re scum. They’re sick people. They’re led by sick people,” he told reporters in Ankara.

“As far as I’m concerned, it’s just a waste of time dealing with them.”

Trump has previously walked back threats against Iran, but this time his remarks triggered an immediate market reaction, oil prices climbed while stock markets dropped.

The renewed violence has intensified worries over the safety of the Strait of Hormuz.

Shipping data revealed that at least four oil and gas tankers reversed course rather than risk passage through the critical waterway.

Global bond markets also took a hit as oil prices spiked. Brent crude jumped 5%, its steepest single-day rise since late May, reaching $78 a barrel.

Although still well under the $120-plus peaks recorded during the conflict’s most intense phase, the increase was enough to stoke fresh inflation concerns in the bond market, especially given that months of fighting have already depleted global oil reserves.

BLAME GAME: TEHRAN AND WASHINGTON POINT FINGERS

Iran’s Revolutionary Guard Corps (IRGC) confirmed Wednesday that it had struck U.S. military sites in both Bahrain and Kuwait, and also claimed to have downed a U.S. MQ-9 drone that attempted to disrupt the operation.

This followed earlier U.S. military action, including new strikes and the revocation of a license permitting Iran to export oil, in direct response to the tanker attacks in the strait.

U.S. Central Command reported that its operation hit more than 60 small IRGC-operated boats, describing the mission as a way to impose serious consequences on Iran for violating the ceasefire through attacks on shipping vessels.

CENTCOM stated: “The unwarranted aggression by Iranian forces is a clear and dangerous violation of the ceasefire and undermines freedom of navigation.”

NATO Secretary General Mark Rutte, speaking to reporters ahead of the summit, described the fresh U.S. strikes on Iran as “absolutely necessary.”

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EU foreign policy chief Kaja Kallas weighed in on X, stating: “The exchanges of fire between the U.S. and Iran further complicate already fraught talks to end the war. Iran’s attacks on Bahrain and Kuwait are unacceptable.”

Iran’s senior military body, the Khatam al-Anbiya Central Headquarters, denounced the U.S. strikes as a “blatant act of aggression,” vowed a “crushing response,” and cautioned that Tehran would not tolerate American interference in overseeing the strait.

Mohammad Baqer Qalibaf, Iran’s parliament speaker and a key figure in the negotiations, accused Washington of violating the ceasefire, pointing not just to the latest strikes, but also to renewed oil sanctions, breaches of Iran’s “adjustments” in the Strait of Hormuz, and Israeli strikes on Lebanon.

“The era of bullying and extortion is over,” Qalibaf said in a post on X.

“We don’t fold.”

Iranian state media reported explosions at multiple sites, including the country’s key oil hub on Kharg Island, as well as on Qeshm Island and in the southern port cities of Sirik and Bandar Abbas.

Iran’s Press TV noted several blasts on Kharg Island specifically, though CENTCOM’s statement made no reference to that location, notable given that Iran exports roughly 90% of its crude oil from there.

A U.S. official told Reuters that the strikes targeted Iranian air defense systems, coastal surveillance networks, surface-to-air missiles, anti-ship cruise missiles, and drone launch facilities. No civilian casualties were reported in Iran.

IRAN LEVERAGES STRAIT CONTROL AMID NEGOTIATIONS

Iran’s grip on the Strait of Hormuz continues to give it substantial leverage, allowing it to effectively hold the world’s most powerful military at a standstill.

According to analysts, Tehran uses tanker attacks strategically to reinforce that leverage while negotiating a long-term peace settlement with Washington.

As part of the interim U.S.-Iran deal, the U.S. Treasury had issued a general license on June 22 permitting the sale of Iranian crude oil, petrochemicals, and petroleum products through August 21. That license was revoked on Tuesday, with Iran given until July 17 to wind down any remaining transactions.

Iran’s foreign ministry condemned the revocation as a violation of the framework agreement meant to end the war, warning that Washington would be held responsible for whatever consequences follow.

The ministry added that Iran would take whatever measures it deemed necessary to protect its interests and national security.