Trump Declares Iran Ceasefire 'Over,' Revokes Oil Export License Amid Strait of Hormuz Attacks

President Donald Trump declared the ceasefire with Iran "over" on Wednesday while attending a NATO summit in Ankara, Turkey, escalating tensions after a series of attacks on commercial vessels in the Strait of Hormuz. Trump stated he no longer wished to engage with Iran, using harsh rhetoric to describe the Iranian government. The declaration followed an exchange of military strikes between the U.S. and Iran overnight Wednesday, with the U.S. conducting retaliatory strikes on Iranian targets in response to Tuesday's attacks on three commercial ships in the strategic waterway.

On July 8, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) revoked a general license that had permitted Iran to export oil internationally, effectively canceling a temporary sanction relief negotiated just one month earlier. According to the new directive, companies were ordered to complete all operations with Iranian oil by July 17, with payments directed to blocked U.S. accounts. A U.S. administration official stated the revocation was prompted by Iran's actions in the Strait of Hormuz, which the official called "completely unacceptable" to the United States. The official emphasized that the memorandum of understanding "is entirely based on compliance" and that Iran would only receive relief through "appropriate behavior."

The escalation significantly disrupted the NATO summit agenda, which had been designed to showcase defense spending commitments by allied nations totaling $1.2 trillion since Trump took office in 2017. Trump used the gathering to air grievances against European allies, stating that Italy, Germany, and France had refused to support U.S. military operations against Iran. He questioned why the United States continues to spend hundreds of billions of dollars on defense while allies do not reciprocate support, framing his Iran operations as a test of NATO loyalty. Trump also revived contentious remarks about Greenland, insisting the U.S. should control the semi-autonomous Danish territory, drawing sharp rejection from Danish Prime Minister Mette Frederiksen.

The Joint Maritime Information Center (JMIC) elevated the threat level in the Strait of Hormuz to "serious" following recent vessel attacks. The UK's Maritime Trade Operations Center (UKMTO) reported three attacks on tankers within two days, with two vessels struck by unidentified projectiles and another by drone. In response to the U.S. strikes, Iran's Revolutionary Guard announced it had launched missiles and drones against Kuwait and Bahrain, both U.S. military base hosts in the Persian Gulf.

The ceasefire, established last month through a memorandum of understanding between Washington and Tehran, had already shown signs of fragility. The temporary sanction relief had primarily benefited China, which remained the primary buyer of Iranian oil as other potential purchasers feared renewed restrictions. Treasury Secretary Scott Bessent had previously acknowledged this limited impact. Despite the current escalation, Trump did not completely rule out future diplomatic negotiations aimed at a permanent peace settlement with Iran.