Oil jumps over $2 after Trump rejects return to Iran ceasefire deal terms

President Donald Trump affirmed on Thursday that the United States is not engaging in dialogue with Iran, as the nation concentrates on imposing economic sanctions against Tehran, threatening to penalize any country that trades with the Islamic Republic. "We don’t want to speak to them. We’re not looking to meet or anything," Trump declared to reporters in the Oval Office.

Earlier, White House Press Secretary Karoline Leavitt announced the US economic strategy would persist until Iran agrees to negotiate meaningfully. "Now we have Operation Economic Outcast to destroy their economy," Leavitt informed the "Fox & Friends" program. "No negotiations are happening right now, and this will continue until the president feels that maybe they come to the table in a meaningful way… He of course continues to retain all options on the table."

Treasury Secretary Scott Bessent cautioned nations on Monday to sever their financial connections with Iran or face secondary sanctions as part of the "Economic D-Day," although the Treasury Department refrained from actual penalties. When questioned on Thursday about punishing Russia for ongoing business with Iran, Trump replied: "It depends.

So far, I think Russia’s behaved quite well, having to do with the Strait of Hormuz, and you have to understand: for everything they do, we do also. You know, somebody was saying about China. What about China? We hear they’re spying. We spy on them too."

Subsequently, when inquired if he would sanction Chinese banks for transacting with Iran, Trump replied: "Who said I’m not? You don’t know if I’m doing it… I don’t have to announce everything, do I?" Qatar’s prime minister journeyed to Tehran on Thursday, aiming to reinstate diplomacy following the US and Iran's exchanges of accusations over Washington's pledge to escalate economic pressure, an action one Iranian official characterized as "all-out economic war."