US President Donald Trump says Iran ceasefire over but talks to continue

United States (US) President Donald Trump said they would continue talks with Iran but considers the ceasefire between the countries to be over.

 

“The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!,” Trump said Friday on social media.

 

The president’s comments follow several nights of US airstrikes and Iranian retaliation that sent oil prices higher and raised doubts about further talks toward a broader peace deal. 

 

Trump’s comments are likely to ease fears of a return to all-out war. Oil jumped to session highs before retreating, while stocks fell before trimming losses after Trump’s post. Markets are getting a jolt that moving past war risks has been premature, yet the modest reaction in oil will keep the cross-asset reaction contained.

 

 

The US accused Iran of attacking ships transiting Hormuz, a critical passageway for oil and gas supplies. The US military launched strikes on Iranian targets this week, while Tehran hit back at US bases in the region, including in Kuwait and Bahrain.

 

Daily tanker traffic through the critical waterway appeared to have slowed on Friday, after the series of attacks stoked concerns about the recovery of global oil supplies and shipping, and highlighted the fragility of the interim truce.

 

Iran’s semi-official Tasnim news agency said a Qatari delegation visited Iran in what analyst said appears to be an effort by Doha to consolidate its role as a mediator. It follows Qatari accusations against Iran over an alleged incident in the strait.

 

Talks in Iran aim to address the implementation of the US-Iran memorandum of understanding and the issues that triggered the recent escalation between Washington and Tehran, including disputes over navigation in the strait, the source said.

 

“An attack on infrastructure will be met with a reciprocal response,” Iran’s Supreme National Security Council secretary, Mohammad Bagher Zolghadr, said earlier Friday, extending the warning to Israel.

 

His son and successor, Mojtaba, has not been seen in public or appeared on video since taking on his new role, sparking questions over his health and involvement in negotiations with the US. The younger Khamenei will hold a memorial ceremony for his father on Friday, his office said, spurring speculation he could make his first public appearance since the war.