Global oil prices remain high as US-Iran peace talks stall, with the blockage of the Strait of Hormuz causing a fuel supply crisis, as US President Donald Trump claims that “right now, I think the situation is so good” with Tehran.
Also on Wednesday, Trump took to Truth Social to announce the US would exert more financial pressure on Iran. The president’s latest conflicting string of messaging comes after he told administration envoys earlier this week to halt their conversations with Iran, per a US official.
Here’s the latest on what Trump has said regarding the ongoing war in Iran:
- Trump told reporters Wednesday that talks could resume again with Iran “at some point” and reiterated his claim that the United States is in “possession” and in “complete control” of the Strait of Hormuz.
- Hours later on Wednesday, Trump shared on Truth Social that the US would begin “the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY.” Tehran faces “Economic Warfare and Isolation on an unprecedented scale,” he added. The president did not offer further details about the economic operation or what measures it would entail.
- Trump continued, warning there would be economic consequences for any “country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran.”
Catch up on other headlines:
- Iraq’s parliament speaker called on Iran to grant Iraqi oil exports going through the Strait of Hormuz “special status,” according to the state-run Iraqi News Agency.
- In the Bab-el-Mandeb Strait — where clashes have intensified in recent weeks — data shows at least 45 vessels crossed, including eight tankers and eight cargo ships going to the Gulf of Aden. Yemen’s Iran-backed Houthis claimed Wednesday to have targeted eight Saudi oil tankers since late July, when it declared a maritime blockade on Saudi shipping, according to a Houthi-run news agency.
- Meanwhile, the number of US service members wounded since the start of the Iran war has passed 750, according to the Defense Department’s war casualty database.
CNN’s Tal Shalev, Lisa Wong, Alejandra Jaramillo, Billy Stockwell, Mostafa Salem, Molly English, Piper Hudspeth Blackburn and Magdalena Vitores Moreno contributed reporting.
