President Trump declared the ceasefire with Iran "over" on Wednesday, saying further negotiations are a "waste of time." The remarks came just hours after the U.S. launched new strikes on Iran, retaliation for renewed Iranian attacks on commercial vessels in the Strait of Hormuz. The abrupt reversal follows a peace deal Trump had previously described as "unconditional surrender."
Three weeks after signing that agreement, any sense of calm in the region has evaporated. Both sides are now trading fresh attacks, with the U.S. also revoking a general license that permitted Iranian oil sales. The developments mark a stark breakdown of what was hailed as a diplomatic breakthrough.
Oil markets reacted sharply. Brent crude jumped 6% to nearly $79 a barrel in morning trading, returning above pre-war levels after having dipped below. The price surge reflects renewed fears of supply disruption from the critical Hormuz shipping lane.
Trump dismissed the Iranian leadership in stark terms, telling reporters at the NATO summit in Ankara: "I don't want to deal with them anymore. They're scum." The comments signal a potential escalation in U.S.-Iran tensions, with no clear path back to negotiations.
Critics argue the administration's unpredictable approach undermines U.S. credibility as a negotiating partner. Without a ceasefire framework, the risk of broader regional conflict remains significant.