President Donald Trump said a memorandum of understanding with Iran on ending hostilities appears to be finished, signaling he may effectively abandon the negotiations.
Trump made the remarks on July 8 during a meeting with NATO Secretary General Mark Rutte on the sidelines of the NATO summit in Turkey, according to Yonhap News and other reports. Referring to Iran, he said, “I don’t want to make a deal with them. They are sickening people.”
The comments came shortly after military clashes between the US and Iran resumed. A day earlier, on July 7, US Central Command resumed supplies to Iran. The move followed a series of Iranian attacks on three tankers in the Strait of Hormuz.
The US government also revoked the temporary general license it had issued on June 21 to allow sales of Iranian crude oil. The license had been valid for 60 days. As a result, 63 million barrels of Iranian crude are now reportedly stranded at sea.
Iran moved quickly to respond. It reportedly retaliated for US airstrikes by striking US facilities in Bahrain and Kuwait.
Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.