U.S. forces launched a series of powerful strikes against Iran over two days, hitting more than 80 targets to degrade Tehran's ability to threaten freedom of navigation in the Strait of Hormuz. The attacks targeted air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities, and over 60 Islamic Revolutionary Guard Corps small boats. Strikes were reported in Sirik, Bandar Abbas, and Qeshm. U.S. Central Command stated the operations were in response to Iranian attacks on three commercial vessels transiting the strait, which they called a clear violation of the ceasefire.
President Donald Trump declared that the interim agreement to end the war with Iran is over. Speaking at a NATO summit in Turkey, Trump called dealing with Tehran a waste of time, referred to the Iranian team as scum, and suggested the U.S. might launch further strikes or resume a blockade on Iranian ports. The interim deal, brokered by Pakistan last month to provide a 60-day window for negotiations, has collapsed as the two sides exchange military blows.
Iran responded by launching joint missile and drone operations against U.S. military sites in Bahrain and Kuwait, triggering missile alert sirens in both countries. Iran's top joint military command accused Washington of a blatant act of aggression and warned of a crushing response, asserting that Tehran would not allow U.S. interference in the management of the Strait of Hormuz.
The escalation has caused significant economic volatility. The U.S. Treasury Department revoked a sanctions waiver that allowed Iran to sell oil, leaving millions of barrels in limbo. Following the announcement and the military strikes, Brent crude oil prices surged more than 6% to over $78 a barrel, marking the steepest increase since the ceasefire began. U.S. equity futures fell as investors grew risk-averse amid renewed fears of supply disruptions in the vital international trade corridor.