U.S. President Donald Trump stated that there were no ongoing discussions with Iran and affirmed that the Strait of Hormuz was open, contradicting Iran’s claim that the waterway was closed to shipping. The diminishing hopes for a resolution to the nearly six-month conflict led to a rise in oil prices and a decline in stock markets, with concerns about long-term inflationary effects. Despite a temporary ceasefire ending, there were no new strikes reported on Tuesday.
Trump declared on Truth Social that there were no talks scheduled with Iran, emphasizing that the Naval Blockade was in place and the Strait of Hormuz was operational after removing all water mines. Jared Kushner, Trump’s son-in-law and special envoy, had expressed optimism regarding ongoing talks with Iran.
The conflict, initiated by U.S.-Israeli strikes on Iran, has reached a stalemate, with Iran threatening shipping in the strait and the U.S. warning of potential renewed attacks. One of the primary U.S. objectives is to prevent Iran from obtaining a nuclear weapon, a challenging task without addressing the enriched uranium at previously targeted sites.
Recent reports from the United Arab Emirates indicated that two ballistic missiles launched from Iran targeted maritime traffic, though Iran denied these accusations. The UAE suspended trade activities with Iran due to escalating tensions, affecting direct cargo shipping between the two countries.
In a separate incident, a vessel transiting the Strait of Hormuz reported being struck by a projectile, resulting in engine room damage and crew casualties. Iranian parliament Speaker Mohammad Baqer Qalibaf stated that the strait would remain closed until the U.S. fulfilled conditions outlined in an interim deal signed in June.
While Trump expressed no intention to extend the negotiation period, Iran reiterated its openness to dialogue with the U.S., emphasizing that military pressure and sanctions would not weaken its resolve. The conflict has caused significant casualties and economic disruptions, with Brent crude oil prices soaring during the crisis.
Amid warnings of potential further economic sanctions on Iran, the situation remains tense, with the conflict showing no signs of immediate resolution.