United States President Donald Trump declared the interim ceasefire agreement with Iran as "over" on Wednesday, July 8, 2026, while launching a verbal attack on Tehran, calling them "scum" and "sick people." The statement came ahead of a NATO summit in Ankara, Turkey, and followed failed indirect talks in Qatar and new US military strikes on Iranian targets.
Trump's Strong Words
Speaking alongside NATO Secretary General Mark Rutte, Trump said, "To me, I think it's over. I don't want to deal with them. They're scum. They're sick people. They're led by sick people. As far as I'm concerned, it's just a waste of time dealing with them." The president also indicated that while US representatives could continue negotiations, he doubted any progress would be made. "They can talk, but I think they're wasting their time," he added.
Background of the Agreement
The interim ceasefire agreement, brokered with Pakistan's mediation, was signed between Washington and Tehran to provide a 60-day window for negotiations on a permanent agreement. However, indirect talks in Qatar ended the previous week without any signs of progress. The deal had included a US Treasury general license issued on June 22, allowing the sale of Iranian crude oil, petrochemicals, and petroleum products through August 21. That license was revoked on Tuesday, July 7, giving Iran until July 17 to wind down any transactions.
Military Escalation
The US had earlier unleashed new military strikes on Iran and revoked the oil license after three tankers were hit by projectiles in the Strait of Hormuz. The US Central Command (CENTCOM) reported that more than 60 small boats of Iran's Islamic Revolutionary Guards Corps (IRGC) were among the targets hit, aiming to impose a high cost on Iran for violating the ceasefire by striking shipping. In retaliation, the IRGC claimed it targeted US military sites in Bahrain and Kuwait. Iran's top joint military command, Khatam al-Anbiya Central Headquarters, condemned the US strikes as a "blatant act of aggression," threatened a "crushing response," and warned that Tehran would not allow US interference in the management of the Strait of Hormuz.
Impact on Oil Prices
World oil prices soared more than five percent following Trump's comments. International benchmark Brent North Sea crude jumped 5.3 percent to $78.09 per barrel, while the main US contract, West Texas Intermediate, advanced 5.4 percent to $74.23 per barrel. Bjarne Schieldrop, chief commodities analyst at SEB, commented, "The latest developments have effectively thrown the future of the 60-day negotiation process into doubt. In my view, a price closer to $80 a barrel is more consistent with current market fundamentals than $70."
