U.S. President Donald Trump declared that there were no ongoing discussions with Iran and affirmed that the Strait of Hormuz was operational, contradicting Iran’s claim that the waterway remained closed to shipping. The diminishing chances of reaching a resolution to the nearly six-month conflict led to a rise in oil prices on Tuesday, while global stock markets declined and borrowing costs for major economies, including the U.S., reached multi-decade highs.
After a temporary ceasefire agreement expired on Monday, a senior Iranian official indicated that Iran was shifting to a “fully offensive” military stance due to the diplomatic deadlock. Despite this, no new strikes were reported by either side on Tuesday.
Trump stated on Truth Social that there were no talks or scheduled conversations with Iran and confirmed the continued Naval Blockade while asserting that the Strait of Hormuz was accessible and functioning without any remaining water mines.
Jared Kushner, Trump’s son-in-law and special envoy, had previously expressed optimism about ongoing talks with Iran. However, the conflict, triggered by U.S.-Israeli strikes on Iran, has reached a stalemate, with Iran threatening shipping in the strait and the U.S. warning of potential renewed attacks if negotiations fail to produce a lasting settlement.
One of the primary U.S. objectives is to prevent Iran from obtaining a nuclear weapon. Nonetheless, experts suggest that achieving this goal will be challenging without addressing the issue of enriched uranium reportedly hidden at previously targeted Iranian sites.
Despite Trump’s positive assessment of the Gulf situation, reports continued to emerge of attempts to disrupt shipping. The United Arab Emirates’ Defence Ministry disclosed that it detected two ballistic missiles launched from Iran, marking the first such incident since an earlier strike on the Fujairah port. The UAE suspended various activities with Iran due to regional tensions.
The United Kingdom Maritime Trade Operations reported that a vessel transiting through the Strait of Hormuz was hit by an unidentified projectile, resulting in engine room damage and a crew member casualty. The Omani Coast Guard provided assistance to the affected crew.
Iran’s top negotiator, Mohammad Baqer Qalibaf, affirmed that the strait would remain closed until the U.S. fulfilled the conditions outlined in an interim deal signed in June. These conditions include lifting the blockade on Iranian ports, removing oil sanctions, releasing frozen assets, and ceasing threats and military operations.
Despite maintaining openness to dialogue with the U.S., Iran remains steadfast in its stance against military pressure and sanctions. Iranian leaders emphasize their commitment to defending the country’s security, dignity, and allies while refraining from seeking conflict.
The conflict has resulted in significant casualties and economic repercussions, with Brent crude oil prices surging during the crisis. The U.S. administration warned of potential additional economic measures against Iran in the future.