President Donald Trump declared the ceasefire with Iran “over” on Wednesday during a NATO summit in Ankara, Turkey, following renewed military strikes between the two nations. Speaking to reporters during a morning meeting with NATO Secretary-General Mark Rutte, Trump stated, “As far as I’m concerned, it’s over,” adding, “As far as I’m concerned, it’s just a waste of time dealing with them. They’re liars.”
Trump’s announcement came hours after Iran claimed it targeted U.S. military sites in Bahrain and Kuwait. These Iranian attacks followed U.S. strikes against Iran, which American officials described as retaliation for ceasefire violations involving attacks on commercial ships in the Strait of Hormuz.
During a separate meeting with Ukrainian President Volodymyr Zelenskyy, Trump confirmed the U.S. had “hit them hard last night” and indicated that the U.S. would “probably” be pummeling Iran again overnight. He later issued a warning, stating, “I’ll give them a little warning. We’re going to hit them hard tonight.” When asked if the collapse of the ceasefire meant a resumption of full-scale attacks, Trump responded, “They violate the agreement every day. They lie. They cheat. They kill people.”
Pentagon chief Pete Hegseth elaborated on the U.S. strikes, telling reporters at the NATO conference that targets were “anything used to harass shipping in the Strait of Hormuz.” He specified that these included small boats used for harassment, underground storage facilities for drones and missiles, coastal defense sites, and radar locations. Hegseth added, “Anything they thought they had rebuilt or capability they were using was a target last night. Tonight, if we need to, on your order Mr. President, we will hit even more and even deeper because that’s the consequence.”
The renewed military actions and Trump’s declaration immediately impacted global markets. Stock futures dipped on the morning of July 8, with Dow Jones futures down over 400 points before the opening bell, and both the S&P 500 and Nasdaq falling more than half a percentage point. Oil prices also spiked on Wednesday, as conflict in the Middle East often constricts supply. Brent crude oil, the global benchmark, jumped 6% to $74.50 per barrel. U.S. consumers could face higher gas prices, with the national average for a gallon of regular gasoline rising to $3.80, up from $3.85 last week but still down from $4.16 last month.
Adding to the economic pressure, the Treasury Department revoked a temporary U.S. waiver that allowed Iran to sell oil on the open market, a decision expected to further constrain global oil supply. The United States Central Command (CENTCOM) confirmed its strikes were launched to “impose heavy costs for targeting and attacking commercial shipping crewed by innocent civilians in an international waterway,” calling Iran’s actions “unwarranted, dangerous, and a clear violation of the ceasefire.”
International figures also weighed in. NATO Secretary-General Mark Rutte supported the U.S. actions, stating, “I think it is totally crucial that the U.S. forcefully react,” given Iran’s ceasefire violations. He announced that NATO members would discuss Iran on Wednesday, expecting them to affirm that “Iran should never, ever get its hands on a nuclear capability” and that the Strait of Hormuz must remain open to free navigation.
Kaja Kallas, the European Union’s head of foreign affairs, condemned Iran’s recent attacks near the Strait of Hormuz, asserting that they violate the ceasefire and “threaten to disrupt the resumption of energy supplies.” Kallas emphasized that “Freedom of navigation must be unimpeded” and announced that top EU diplomats would meet with officials in the Gulf next week to discuss cooperation and preserving navigation freedom.
In response, Iranian state media posted on social media Wednesday that its attacks were “in response to U.S. military aggression.” They further declared, “We will not allow U.S. interference in the Strait of Hormuz,” and asserted that “Transit through the (strait) is only permitted via the routes designated by Iran.”
The recent escalation underscores the fragility of peace efforts. A preliminary peace agreement was signed in June to end a war that began on February 28. This memorandum of understanding aimed to reopen the Strait of Hormuz and initiate further negotiations on Iran’s nuclear program and U.S. sanctions. A temporary, 60-day ceasefire agreement was most recently reached on June 19. However, the U.S. struck Iran again on June 26 in response to alleged Iranian attacks on ships in the Strait of Hormuz. Fighting appeared to subside until Tuesday, leading to Trump’s declaration on Wednesday that the ceasefire, which lasted 18 days, was over. Iran has also been in a period of public mourning for its late Supreme Leader Ali Khamenei, who was killed in a U.S.-Israeli airstrike in February.
