US President Donald Trump has declared the interim ceasefire agreement with Iran effectively over, as renewed military exchanges and escalating tensions around the Strait of Hormuz fuel fears of a wider regional conflict.
Speaking ahead of a NATO summit in Ankara on Wednesday, Trump said the memorandum of understanding signed between Washington and Tehran was no longer viable.
“To me, I think it’s over. I don’t want to deal with them,” Trump said.
“They’re scum. They’re sick people. They’re led by sick people,” he added. “As far as I’m concerned, it’s just a waste of time dealing with them.”
His remarks came after the US launched a new wave of strikes on Iranian targets in response to attacks on three commercial vessels travelling through the Strait of Hormuz.
Iran said it retaliated by targeting US military sites in Bahrain and Kuwait with missiles and drones. Air raid sirens sounded in both Gulf states as their air defences responded to the attacks.
The renewed fighting has further undermined the fragile ceasefire agreement signed on June 17, which was intended to provide a 60-day window for negotiations towards a permanent settlement.
Both Washington and Tehran have accused each other of violating the agreement. The US said Iran breached the ceasefire by attacking commercial shipping, while Tehran accused Washington of renewed military aggression and reinstating sanctions on Iranian oil exports.
Iran’s Revolutionary Guard said it had targeted US military facilities in Bahrain and Kuwait following the American strikes. Iranian media also reported explosions on Qeshm Island and in the southern port cities of Sirik and Bandar Abbas.
The Strait of Hormuz has remained at the centre of the confrontation. Iran has sought to assert control over the strategically vital waterway, warning vessels against travelling through routes it has not authorised.
At least four oil and gas tankers reportedly turned back rather than attempt to cross the strait amid mounting security concerns.
The escalation quickly affected global markets, with oil prices surging by more than 6% to their highest levels in 2 weeks. The strait carried around one-fifth of global energy supplies before the war began, making any disruption a major threat to international markets.
The conflict began with large-scale US-Israeli strikes on Iran on February 28 and has repeatedly threatened to spread across the Gulf.
With both sides once again openly exchanging attacks, hopes that the ceasefire could provide a pathway towards a permanent agreement appear to have sharply diminished.
For countries heavily dependent on imported fuel, including South Africa, sustained volatility in global oil markets could increase transport costs, inflation and pressure on households already struggling with the rising cost of living.
