finance
Trump Declares US Ceasefire With Iran Over After Strait Attacks
President Trump announced on July 8 that the June 17 memorandum is effectively dead following attacks on vessels near the Strait of Hormuz. U.S. Central Command had conducted strikes on Iranian targets the previous day, and the Treasury Department blocked Iranian oil sales.
Jul 9, 9:54 AM·1m read9 sources
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President Donald Trump declared on July 8 that the U.S. ceasefire with Iran is over. He made the announcement in remarks from a NATO leaders meeting in Ankara, Turkey, after attacks on ships near the Strait of Hormuz.
Trump said the June 17 memorandum of understanding brokered by Pakistan is effectively dead. “To me, I think it’s over,” he told reporters. ” “They’re led by sick people, and they’re vicious, violent people,” Trump said.
U.S. Central Command announced on July 7 that it had launched strikes in response to Iran’s attacks on commercial vessels. The strikes hit Iranian air defense systems, command-and-control networks, coastal radar sites, anti-ship missile weapons and more than 60 small boats associated with the IRGC.
Trump called the U.S. response a “20-to-1” retaliation. The U.S. Treasury Department blocked Iran’s ability to sell oil on international markets, reversing a provision of the June 17 memorandum, and gave Iran until July 17 to wind down ongoing transactions.
The Strait of Hormuz is a waterway through which about a fifth of the world’s oil travels in peacetime. The June 17 memorandum had opened the strait to shipping traffic.
