President Trump declared the ceasefire with Iran to be “over” during a NATO summit in Turkey, expressing deep frustration with the diplomatic process. “As far as I’m concerned, it’s just a waste of time dealing with them,” Trump stated, adding, “They’re liars.”
This shift comes as the United States launched a new series of strikes against Iran on July 7, concurrently revoking a license that had allowed the nation to sell oil on the global market. The license was initially granted as a major concession under the memorandum of understanding (MOU) signed last month to end the war that began on Feb. 28. In retaliation for the U.S. actions, Iran targeted American military installations located in Bahrain and Kuwait.
The ongoing cycle of retaliatory strikes has destabilized markets, with major stock indexes dipping on July 8 and Brent crude oil prices climbing 6% to $74.50 per barrel. The conflict, centered around the Strait of Hormuz—a vital waterway that carried roughly 20% of the world’s oil before the war—has placed the future of the peace agreement in significant jeopardy.
“The era of bullying and extortion is over,” Ghalibaf stated on social media, emphasizing that the Iranian government would not fold under pressure. Despite the heightened tensions, Trump suggested that peace talks might still proceed, though he expressed pessimism regarding their success. He noted that his lead envoys, Jared Kushner and Steve Witkoff, would continue their work, stating, “we’ll see what happens.” This follows recent indirect negotiations held in Doha, Qatar, which Trump previously described as “very good meetings.”
U.S. Central Command confirmed that the July 7 strikes hit 80 targets, including small boats, radar sites, and anti-ship missiles. These followed earlier strikes on June 26 and June 27 that targeted Iranian military infrastructure, such as drone storage and air defense sites. Trump warned on July 8 that further military escalation is possible, noting, “We’ll probably hit them hard again tonight.”
The president also addressed the possibility of targeting critical Iranian infrastructure, including bridges, electric facilities, and saltwater desalinization plants. While he stated he would prefer not to, he warned, “If we have to, we’ll take them out.” Such threats against civilian infrastructure have drawn criticism from human rights groups, political leaders, and international law experts. Additionally, Trump indicated that the U.S. might reinstate a naval blockade of Iranian ports, a measure that had been lifted following the signing of the initial MOU.
