Trump says Iran deal 'isn't worth the paper it's written on'

On Tuesday evening, the United States launched fresh strikes on Iranian targets near the Strait of Hormuz, escalating tensions in the region once more. Explosions were reported in Bandar Abbas city, Qeshm island, and Lavan island, which houses one of Iran's Gulf oil export terminals, according to Iranian state television. Oil prices surged following the attacks, with US crude oil prices increasing by up to 5%.

The US Central Command (CENTCOM) confirmed the strikes, stating they were a response to recent attempted attacks by the Islamic Revolutionary Guard Corps (IRGC) against commercial shipping in the Strait of Hormuz and American service members in the region. President Donald Trump described the strikes as "large and powerful," claiming they were retaliation for Iran's failed attempts to lay mines in the Strait and firing eight missiles towards a US military base in Jordan.

He vowed further retaliation if Iran retaliates, promising "a much harder and higher level" of attack.

Iran's IRGC spokesman expressed regret over the US attacks, while the country's joint military command vowed "crushing and devastating blows" against the US. State media reported that Iran had launched operations against unspecified US targets in the region. The Tasnim news agency claimed that Iran's armed forces had commenced a decisive operation in response to the US adversary, targeting US bases and interests in the region with missiles and drones.

US Treasury Secretary Scott Bessent announced plans to impose fresh sanctions on Iran, including potential bank sanctions in the coming weeks. He also stated that the US was considering targeting airplane leasing companies and other firms dealing with the IRGC, vowing to economically "asphyxiate" the Iranian regime. Iranian President Masoud Pezeshkian vowed to reciprocate any US move signaling a return to the collapsed ceasefire deal, accusing Washington of reneging on its commitments.

He met Russian President Vladimir Putin, who reportedly expressed solidarity with Iran and pledged continued economic ties despite the current tensions.