President Donald Trump declared the ceasefire with Iran “over” on Wednesday at a NATO summit in Ankara, Turkey, after the US launched strikes on more than 80 Iranian targets in response to Iranian attacks on commercial vessels in the Strait of Hormuz, escalating a conflict that had appeared to stabilize under a fragile agreement signed three weeks earlier.
Speaking at the start of the NATO gathering, Trump called Iran “dirty players” and “scum” for targeting three merchant ships transiting the Strait of Hormuz on July 7. He said he would allow negotiators to “keep talking if they want,” but characterized further diplomacy as a “waste of time.”
The US military strikes, which concluded after approximately four hours early Wednesday, targeted air defense systems, command and control networks, coastal radar sites, and anti-ship cruise missiles, according to US Central Command. The assault marked the largest escalation since the US and Iran signed a Memorandum of Understanding on June 17 to end months of warfare and reopen the vital shipping corridor.
Trump had signed the agreement at the Palace of Versailles to pause hostilities and allow negotiations on a broader nuclear deal. The accord had already been strained by repeated violations from both sides, with the US conducting retaliatory strikes on June 26 and June 27 after accusing Iran of breaching the ceasefire. But Wednesday’s declaration represents the first time Trump has explicitly stated the agreement is finished.
In response to the US strikes, Iran’s Islamic Revolutionary Guard Corps said it launched missiles and drones at 85 US military targets across Bahrain and Kuwait. The Iranian military separately reported drone attacks on Bahrain’s Isa Air base, which hosts American forces. Sirens sounded multiple times in Bahrain as residents were directed to shelters.
The escalation has immediate economic consequences. Brent crude, the global oil benchmark, climbed more than 6% to $78.93 a barrel shortly after Trump’s comments, while US equity futures fell sharply—Dow futures down 1.3%, Nasdaq down 1.6%, and S&P 500 futures down 1%. The moves reflected market concern that the conflict could disrupt roughly a fifth of global oil supply that transits the Strait.
The timing of the escalation complicates the NATO summit, which was meant to focus on allied defense spending. Trump has repeatedly criticized European members for insufficient military expenditure and used the gathering to renew demands for control of Greenland and threats to cut trade with Spain over its defense budget cap. The Iran flareup now dominates the agenda, with NATO Secretary General Mark Rutte calling the US strikes “absolutely necessary” but acknowledging the ceasefire’s fragility.
Trump had reversed a key provision of the agreement that allowed Iran to sell oil on global markets, reimposing sanctions after the ship attacks. A team led by Vice President JD Vance had been working under a 60-day deadline—now expired—to secure technical concessions from Tehran on its nuclear program. Those talks had made “positive progress” according to Qatari mediators in early July, but the latest military exchange appears to have halted diplomatic momentum.
Sources
- CNN — Live coverage of Trump’s ceasefire declaration, Iran’s retaliatory attacks on Bahrain and Kuwait, and market reaction
- US Central Command — Official statement on completion of strikes hitting over 80 targets
- Al Jazeera — Reporting on the 80+ US strikes and Iranian attacks on commercial vessels
- Fox News — Coverage of US strikes and reimposition of oil sanctions
- Reuters — Details on Iranian attacks on three commercial vessels and US retaliation
