US Strikes 80+ Iran Targets; Trump Says Deal 'Over'
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- US Central Command launched strikes on 'over 80 targets' in Iran — including air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities, and more than 60 IRGC small boats — in retaliation for Iran's attack on three commercial tankers in the Strait of Hormuz.
- Trump told reporters at the NATO summit in Ankara that the MoU with Iran is 'over' and peace talks are a 'waste of time,' though he said he 'might' allow them to continue; the three attacked tankers were the Marshall Islands-flagged Al Rekayyat, the Saudi-flagged Wedyan, and the Liberian-flagged Cyprus Prosperity.
- Iran's IRGC claimed it retaliated by striking 85 US military targets in Bahrain and Kuwait, as sirens sounded in both countries early Wednesday; one IRGC member was killed by 'enemy drones,' the corps said.
- The US Treasury reimposed sanctions on Iranian oil, revoking a 60-day waiver set to expire August 21; new sanctions apply to oil sales from July 7, with a grace period for ongoing shipments placed in a 'blocked, interest-bearing account.'
- The strikes hit Iranian locations including the southern port city of Sirik, Qeshm Island in the Strait of Hormuz, areas near Bandar Abbas, and two military bases in Bushehr province, with several injured by shrapnel but no reported deaths.
- Markets reacted sharply: Brent crude surged 6% to $78 per barrel, European stocks fell 1.6%, the dollar strengthened, and government bond yields climbed as investors priced in renewed inflation risk.
- This marks the third time the US has launched major attacks on Iran while peace talks are ongoing, and the strikes came during the days-long funeral of Ayatollah Ali Khamenei, who was killed in the February US-Israel war on Iran.
Why it matters: The collapse of the MoU — signed just three weeks ago on June 17 — strips Iran of its oil export lifeline while Brent crude jumps 6% to $78, signaling fresh energy market disruption. Iran's retaliatory strikes on US bases in Bahrain and Kuwait widen the conflict beyond bilateral borders, pulling Gulf allies directly into the escalation.
