Trump Dismisses Iran Ceasefire Deal as ‘Garbage’
Get the Geopolitics newsletter
Daily geopolitics — wars, elections, sanctions, the diplomatic moves that move markets. Free.
- Trump called Iran's ceasefire proposal 'garbage' and said the ceasefire is 'on life support' after reading Iran's demands.
- Iran demanded an end to the war on all fronts, sovereignty over the Strait of Hormuz, compensation for war damage, and an end to the US naval blockade, and defined the strait as a 'vast operational area' from Jask to Siri Island.
- Brent crude oil futures climbed to almost $108 a barrel in early Asian trade as the deadlock kept the Strait of Hormuz largely closed.
- Kuwait arrested four infiltrators linked to Iran's Revolutionary Guards who attempted to enter by sea, with no immediate Iranian response.
- United States imposed new sanctions on individuals and companies helping Iran ship oil to China on May 11.
- Trump is set to travel to Beijing on May 13, where Iran will be a discussion topic with Chinese President Xi Jinping.
Why it matters: Trump’s dismissal of Iran’s ceasefire proposal as “garbage” and his threat to end the truce have kept the Strait of Hormuz largely shut, pushing Brent crude toward $108 a barrel and raising fuel costs for U.S. consumers while tightening economic pressure on Iran through sanctions and reduced oil exports.
