U.S. President Donald Trump stated on Tuesday that there were no ongoing discussions with Iran and affirmed that the Strait of Hormuz was operational, contradicting Iran’s claim that the vital water passage remained closed to shipping. The diminishing hopes for a resolution to the nearly six-month conflict led to a rise in oil prices, a decline in stock markets, and increased borrowing costs for major economies, including the U.S., due to concerns about long-term inflationary effects.
Following the expiration of a temporary ceasefire agreement on Monday, a senior Iranian official mentioned that Iran was shifting towards a “fully offensive” military stance due to the diplomatic deadlock. Despite this, there were no reports of new strikes by either side on Tuesday.
Trump emphasized that there were no ongoing or scheduled talks with Iran and reaffirmed the naval blockade while confirming the openness of the Hormuz Strait. Meanwhile, Jared Kushner, Trump’s son-in-law and special envoy, previously expressed optimism about the ongoing talks with Iran, indicating that they were more substantial than before.
The conflict, which began with joint U.S.-Israeli attacks on Iran, has now reached a stalemate, with Iran continuing to pose threats to shipping in the strait while Washington warns of potential renewed attacks if negotiations fail to produce a lasting resolution. One of the primary U.S. objectives is to prevent Iran from obtaining a nuclear weapon, a challenging task without addressing the enriched uranium allegedly hidden at previously targeted sites.
Despite Trump’s positive outlook on the Gulf situation, reports of shipping disruptions persisted. The United Arab Emirates reported detecting two ballistic missiles launched from Iran, targeting maritime traffic. The missiles fell into the sea, but Iran rejected the accusations, leading to a suspension of trade activities between the UAE and Iran.
In a separate incident, a vessel transiting the Strait of Hormuz was struck by an unidentified projectile, resulting in engine room damage and casualties among the crew. The Omani Coast Guard provided assistance to the affected crew members, with no immediate response from Tehran.
Top Iranian negotiator Mohammad Baqer Qalibaf insisted that the strait would remain closed until the U.S. fulfilled the conditions outlined in an interim deal signed in June. However, with the agreement’s 60-day timeframe expiring, Trump indicated no intention to extend it, highlighting the disagreements over control of the strait as a major stumbling block.
Iran expressed readiness for dialogue with the U.S. but emphasized that negotiations should not be equated with surrender. The country’s leaders underscored their commitment to defending their security, dignity, and allies while maintaining a stance against military pressure and sanctions.
Throughout the conflict, thousands of casualties have been reported, primarily in Iran and Lebanon. Iran has conducted military actions against U.S. bases and infrastructure in various countries. Oil prices have surged during the conflict, with Brent crude futures settling slightly higher on Tuesday. The U.S. administration warned of potential additional economic sanctions against Iran in the coming months.
