United States President Donald Trump has declared that the interim agreement between Washington and Tehran aimed at ending recent hostilities is effectively over, saying he no longer sees any value in negotiating with Iran.
Speaking on Wednesday ahead of a NATO summit in Ankara, Turkey, Trump dismissed the prospects of further engagement with Tehran after indirect negotiations in Qatar failed to produce a breakthrough.
“To me, I think it’s over. I don’t want to deal with them,” Trump said.
“They’re scum. They’re sick people. They’re led by sick people. As far as I’m concerned, it’s just a waste of time dealing with them.”
The interim ceasefire agreement, brokered with the support of Pakistan, was intended to create a 60-day window for negotiations toward a permanent settlement. However, talks held in Qatar last week ended without significant progress.
Tensions between the two countries have escalated in recent weeks following fresh US military strikes on Iranian targets and Washington’s decision to revoke a licence that had temporarily allowed the sale of Iranian crude oil, petrochemical and petroleum products.
The latest military action came after three commercial tankers were struck by projectiles in the Strait of Hormuz.
According to the United States Central Command (CENTCOM), the strikes targeted more than 60 small boats belonging to Iran’s Islamic Revolutionary Guard Corps (IRGC), describing the operation as an effort to impose heavy costs on Iran over attacks on international shipping that allegedly violated the ceasefire.
In response, the IRGC said it launched retaliatory strikes against US military sites in Bahrain and Kuwait.
Iran’s Khatam al-Anbiya Central Headquarters condemned the US operation as a “blatant act of aggression,” warning that Tehran would deliver a “crushing response” and resist any US interference in the management of the Strait of Hormuz.
As part of the earlier agreement, the US Treasury had issued a general licence on June 22 allowing transactions involving Iranian oil and petroleum products through August 21. However, the licence was revoked on Tuesday, with businesses given until July 17 to wind down affected transactions.
Despite his remarks, Trump said US officials remain free to continue diplomatic discussions with Iran, although he expressed little confidence in any positive outcome.
“They can talk, but I think they’re wasting their time,” he said.
Trump’s comments triggered sharp reactions in the global energy market, with oil prices rising by more than five per cent.
International benchmark Brent crude climbed 5.3 per cent to $78.09 per barrel, while US benchmark West Texas Intermediate (WTI) gained 5.4 per cent to $74.23 per barrel.
Commenting on the market reaction, SEB chief commodities analyst Bjarne Schieldrop said the latest developments had cast serious doubt on the future of the 60-day negotiation process.
“The latest developments have effectively thrown the future of the 60-day negotiation process into doubt,” he said.
“In my view, a price closer to $80 a barrel is more consistent with current market fundamentals than $70.”