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Strikes After Ceasefire Ends
The United States carried out airstrikes on Iran for the second consecutive day, with U.S. Central Command saying, "At the direction of the Commander-in-Chief, U.S. Central Command has initiated additional airstrikes targeting Iran."
“The North Atlantic Treaty Organization (NATO) summit has come to a close in Turkiye’s capital”
Central Command said the strikes were "intended to further degrade Iran’s ability to threaten the freedom of navigation in the Strait of Hormuz" and said it was holding Iran accountable for "recent unlawful attacks against merchant vessels and civilian seafarers".
The escalation followed President Donald Trump’s remarks that the ceasefire agreed upon last month was "over," and the Asian report said the renewed strikes came just hours after that statement.
Al Jazeera, citing Iran’s state broadcaster IRIB, reported that eight explosions were heard in the southern port city of Bandar Abbas and that air defense systems had been activated.
The same Asian report said Iran also claimed to have targeted U.S.-related military facilities, signaling the collapse of the Memorandum of Understanding (MOU) that had outlined terms for ending hostilities.
Trump, Rutte, and Iran’s Response
At the NATO summit in Ankara, Trump told reporters, "As far as I’m concerned, it’s over," and Al Jazeera reported that NATO Secretary General Mark Rutte said the strikes were "absolutely necessary."
Al Jazeera also quoted Rutte saying, "We see what happened yesterday with ships being attacked. I think it is totally crucial that the US forcefully reacts," as the alliance’s final declaration called on Iran to respect freedom of navigation through the Strait of Hormuz.
In Iran, Foreign Minister Abbas Araghchi responded to Trump’s criticism by posting on X, "We do not respond to vulgarity with vulgarity. We respond with action," according to Al Jazeera.
The Al Ain report said Bloomberg sources indicated Trump told leaders he did not want to continue negotiating with the Iranians and repeated that Europeans should show more respect for the United States and increase their military spending.
Euronews reported that Trump said, "I think whatever happens will end very quickly, and that will only make the situation safer, including for oil," while also saying the United States struck with "a much greater force" after ships were attacked.
Markets, NATO, and What’s at Risk
The escalation tied to the Strait of Hormuz fed into market moves, with the Asian report saying WTI for August delivery on the New York Mercantile Exchange closed at $73.52 per barrel, up 4.37% from the previous session.
“Pakistan, which led mediation between the United States and Iran, urged both sides to de-escalate and to commit to the terms of the memorandum of understanding they signed to end the war in the Middle East, after mutual escalation on Wednesday”
The Rolling Out report said the S&P 500 fell sharply as oil prices surged, and it cited Central Command confirming its forces struck more than 80 targets inside Iran overnight, including command and control networks and coastal radar sites.
NATO’s final declaration in Ankara reaffirmed collective defense and called for freedom of navigation in the Strait of Hormuz, while the Al Ain report said leaders stressed that Iran must not possess a nuclear weapon.
Al Jazeera reported that NATO pledged 70 billion euros ($80bn) in assistance to Kyiv and that the alliance’s commitments included "more than $50 billion in new procurements" alongside air and missile defence and uncrewed systems.
Euronews said Pakistan urged both sides to de-escalate and commit to the terms of the memorandum of understanding, as the NATO summit’s closing statement emphasized ensuring freedom of navigation in the Strait of Hormuz.
