Key facts
- President Donald Trump declared the Iran deal 'over' and threatened strikes on Iranian power plants and bridges.
- The US reimposed a naval blockade on Iranian ports amid escalating tensions in the Strait of Hormuz.
- Iran claimed attacks on US military installations and threatened further action.
- Trump proposed and then abandoned a plan to charge tolls for passage through the Strait of Hormuz.
- The conflict has pushed oil prices toward $90 a barrel and cost the US an estimated $100 billion.
President Donald Trump has escalated tensions with Iran, declaring the Iran deal 'over' and threatening strikes on civilian infrastructure amid ongoing conflict in the Strait of Hormuz. The US has reimposed a naval blockade on Iranian ports, while Iran has claimed attacks on US military installations and threatened further action.
Trump's objectives and methods have been characterized by confusion, with daily U-turns and boasts later revealed to be false. While the immediate aim is to regain control of the Strait of Hormuz, the conflict is pushing oil prices toward $90 a barrel and has cost the US an estimated $100 billion.
A proposed US toll for passage through the strait was quickly abandoned after facing widespread opposition from shipping firms, administration members, and European leaders. This proposal was seen as incompatible with international law and the principles of freedom of navigation.
Despite the ongoing conflict, Trump announced a meeting with Iran in Doha, though an Iranian official denied scheduled discussions. The situation remains volatile, with approximately 6,000 sailors trapped in the strait, which is still controlled by Iran. The prospect of an agreement on Iran's nuclear program by August 17 appears increasingly unlikely.