Temporary Ceasefire Is Over, Trump Says
US President Donald Trump said that the temporary agreement to end the war with Iran is "over." This statement came after Iran launched new attacks on US military bases in the Gulf region.
Tensions escalated after Iran announced it had targeted US military sites in Bahrain and Kuwait. The attacks were said to be in retaliation for US attacks on Iranian targets, which were carried out following the tanker incident in the Strait of Hormuz.
Trump's comments further dampened hopes that the memorandum of understanding signed on June 17 could evolve into a permanent peace deal. The conflict itself began with US-Israeli airstrikes against Iran on February 28.
The impact was immediately felt on global markets. Oil prices surged sharply as investors worried about the security of the Strait of Hormuz, a vital route for global oil and gas supplies. Meanwhile, stock markets were also depressed as investors again avoided risky assets.
Iran condemned the US attack as a blatant act of aggression and warned of a strong response. Iranian Parliament Speaker Mohammad Baqer Qalibaf also accused Washington of violating the ceasefire through military strikes, new oil sanctions, and interference in the management of the Strait of Hormuz.
In addition to military factors, pressure also stems from the US decision to revoke Iran's oil sales permit. Under the previous interim agreement, Iran had been permitted to sell oil and petroleum products until August. However, the revocation of the permit further deteriorated relations between the two countries and increased the risk of disruption to global energy supplies.
Source: Newsmaker.id
