Trump Announces End of Ceasefire, Promises Further Strikes
US President Donald Trump has declared the ceasefire with Iran over, vowing to unleash heavy military strikes against the Tehran government, which he labeled as 'dishonourable.' Speaking at the NATO summit in Turkey, Trump stated, 'If we make a deal with Iran, I’m not sure that will stick because I found them to be very dishonourable. We hit them very hard last night, very, very hard,' adding that the US will 'probably hit them hard again tonight.'
Oil Prices Surge Amid Renewed Hostilities
The announcement caused Brent crude oil prices to jump by approximately 6.5% to $79 a barrel on Wednesday morning, reflecting market uncertainty. The latest wave of US raids against Iran and Trump’s comments on the fragile ceasefire have further destabilized global economies.
Background: US Strikes and Iranian Retaliation
Trump's remarks followed US forces launching a wave of strikes on Iranian targets in response to Iran’s targeting of tankers in the Strait of Hormuz. The American military confirmed it struck 80 targets in Iran on Wednesday as retaliation for Iran’s attacks on commercial vessels. Iran retaliated with strikes against Bahrain and Kuwait. Earlier, Trump called the Iranian regime 'scum' and 'sick people,' saying dealing with them was 'a waste of time.'
Oil Sanctions Reinstated
The attacks came hours after Washington revoked Tehran’s license to sell oil, which had been issued only last month following an interim ceasefire deal. This move further escalated tensions.
UK Calls for Continued Peace Negotiations
Downing Street expressed a desire for peace negotiations to continue. Speaking at the NATO summit in Ankara, UK Prime Minister Sir Keir Starmer told reporters, 'I think it's very important that we all focus on maintaining the ceasefire, notwithstanding the events of the last few days, and trying to make sure we can implement the deal that is in place.' He emphasized that ensuring energy bills come down requires progress on the deal Trump struck with Iran and reopening the Strait of Hormuz.
Iran Accuses US of Ceasefire Violations
Iran’s top negotiator, Mohammad Bagher Ghalibaf, accused the US of committing 'major' violations of the ceasefire deal, including 'persistent threats of further strikes,' 'reinstating oil sanctions,' and 'attacks on southern Iran.' In a post on X, he stated, 'The era of bullying and extortion is over. It leads nowhere. We don’t fold.'
Impact on Shipping and Regional Stability
Three civilian vessels were hit in the Strait of Hormuz on Tuesday, the most in a single day since late April, according to UN International Maritime Organisation figures. The renewed hostilities threaten to disrupt shipping transiting the Gulf channel and complicate efforts to secure a permanent end to the conflict, which was launched by the US and Israel on February 28.
Funeral Ceremonies for Former Supreme Leader
Tensions remain high in Iran, with funeral ceremonies being held for the former Iranian Supreme Leader, the late Ayatollah Ali Khamenei, who was killed in the opening attack of the war.
