On July 7, three commercial vessels were attacked near the Strait of Hormuz. The following day, US forces launched large-scale airstrikes on over 80 military targets inside Iran and reimposed oil sanctions. Iran‘s Revolutionary Guard responded with missile and drone strikes on 85 US military facilities in Bahrain and Kuwait. Hours later, Trump declared at the NATO summit that the US-Iran ceasefire “is over,” saying further negotiations were “a waste of time”. On the night of July 8, the US conducted a second, larger wave of strikes, with explosions reported across multiple Iranian cities. The truce lasted barely three weeks, and the conflict has escalated beyond previous levels. Oil prices surged over 6%, with tanker traffic through the Strait “largely halted”.
















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