U.S. President Donald Trump declared on Wednesday at the NATO summit in Ankara that, in his opinion, the ceasefire with Iran is practically over. He was responding to overnight U.S. strikes against Iranian military targets, which Washington described as retaliation for attacks on commercial ships in the Strait of Hormuz. "I think it's over," Trump said in response to a reporter's question about whether peace talks with Tehran were dead. However, he also added that U.S. negotiators could continue discussions.
According to the U.S. side, Iran violated the fragile agreement by attacking three commercial vessels in one of the world's most important shipping lanes. The U.S. Central Command stated that the strikes were intended to "impose significant costs" for attacks on civilian crews in international waters. The AP news agency reported that the United States targeted Iranian air defense systems, radars, and more than sixty small boats associated with the Revolutionary Guards.
Iran, in turn, accused Washington of violating the agreement and warned countries in the region, according to state media, that supporting U.S. operations could make them a legitimate target. Following the U.S. strikes, alarms were sounded in Kuwait and Bahrain, where U.S. forces are stationed. Kuwait said it intercepted two ballistic missiles and thirteen drones.
Trump used extremely harsh language towards Iranian leaders in Ankara. He described Iranian officials as liars and suggested that further negotiations with Tehran could be a waste of time. The U.S. president also expressed outrage that Washington had allowed the funeral ceremonies for Ayatollah Ali Khamenei to proceed peacefully, while, according to him, the Iranian military was attacking shipping traffic.
NATO Secretary General Mark Rutte supported the U.S. response during the summit and described the new strikes as "absolutely necessary." According to Reuters, Rutte stated that if Iran is violating the ceasefire, a strong U.S. response is essential. The summit in Ankara, which was primarily intended to address defense spending, industrial production, and support for Ukraine, was overshadowed by further escalation in the Middle East.
The tension immediately impacted global markets. According to AP, the price of Brent crude oil jumped nearly six percent, exceeding $78 per barrel, because a significant portion of world trade in oil and natural gas passes through the Strait of Hormuz. The resumption of fighting could therefore once again increase pressure on energy prices, transportation costs, and global inflation.