The United States launched a third round of strikes against Iran and announced the reinstatement of a naval blockade on Iranian ports, amid the collapse of the memorandum of understanding (MoU) signed between the two parties after the resumption of hostilities last week.
Hours before his statements about the strikes, Trump said the Strait of Hormuz is open and will remain so “with or without Iran.” He also announced that the United States would reimpose its blockade on Iranian ports and begin charging fees to ships transiting that waterway.
The president set a levy of 20% “for any and all costs necessary” to guarantee the safety of vessels in the strait. The United States Central Command said preparations to reestablish the blockade of ships bound for or departing from Iranian ports would begin at 20:00 GMT on Tuesday.
The International Maritime Organization (IMO) rejected both the fees and the military actions in the area. In a statement, the IMO Council reaffirmed its commitment to protecting vital sea lanes and said passage through the Strait of Hormuz “must remain free from tolls and charges, in accordance with international law.”
Below is live, minute-by-minute coverage:
Jordan shot down four missiles from Iran
Jordan says it intercepted and shot down four missiles that entered Jordanian airspace from Iranian territory, the state news agency reported.
Iran says it attacked the US Fifth Fleet in Bahrain
The Islamic Revolutionary Guard Corps (IRGC) said it launched missile and drone strikes against the US Fifth Fleet in Bahrain.
It reported that the attacks caused a fire at fuel storage facilities on the base and hit and destroyed a Patriot radar, the fleet’s air control radar, a C-RAM early-warning radar system, and the command and monitoring center for unmanned surface vessels (USVs).
“The retaliatory operation continues,” the statement added.
Asian markets show volatility after Trump’s comments on Strait of Hormuz fees
Stock markets swung between gains and losses, and oil reached its highest level in a month during early Asian trading. In a volatile session, the broader MSCI index of Asia-Pacific equities ex-Japan rose 0.4%, supported by a 2.2% gain in South Korean shares.
Japan’s Nikkei 225 rose 0.2%, while S&P 500 e-mini futures were down slightly by 0.1%.
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Air-raid sirens sound again in Bahrain
Air-raid sirens sounded for the third time on Tuesday morning in Bahrain, where the Interior Ministry asked residents to seek shelter immediately.
Oil prices surge to four-week high
Oil prices rose about 2%, reaching a four-week high amid ongoing reciprocal strikes between the United States and Iran.
Brent futures rose $1.68, or 2%, to $84.98 a barrel, while US West Texas Intermediate (WTI) crude rose $1.65, or 2.1%, to $79.79 a barrel at 00:51 GMT.
The increase follows a dramatic Monday session when Brent jumped 9.6%, its largest one-day gain since May 2020.
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Bahrain intercepted Iranian aerial attacks
Nabeel Alhamer, press adviser to the king of Bahrain, said the kingdom’s air defense systems intercepted and destroyed multiple Iranian aerial attacks in recent hours.
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Air-raid sirens activated in Bahrain
Alert sirens sounded in Bahrain, and authorities urged residents to seek shelter immediately.
The Interior Ministry ordered people to “remain calm and proceed to the nearest safe location” after the latest alarms were activated.
Two tankers attacked by Iran: one Indian crew member killed
The United Arab Emirates Ministry of Defense said on Monday that two national-flagged tankers were struck by two Iranian cruise missiles in the southern channel of the Strait of Hormuz, in Omani territorial waters. The attack killed one Indian crew member and left eight injured, four of them seriously.
The ministry said fires broke out on both vessels but were brought under control. It condemned the attack as a serious violation of international law and said the UAE reserves the right to respond and take all necessary measures to protect its sovereignty and security.
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Trump says Iran wanted further negotiations after the deal
The US president said the United States reached an agreement with Iran two days earlier, but that Tehran wanted to continue negotiating.
When asked by a reporter whether he had decided that a negotiated agreement with Iran was no longer possible, Trump replied: “I never came to that conclusion.”
He added that he believed the most effective way to pressure Iran was through a combination of a blockade and strikes.
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The International Maritime Organization (IMO) reiterated on Monday that passage through the Strait of Hormuz must remain free of tolls, after US President Donald Trump said the same day that the United States would charge a 20% fee for what he called security protection.
Under international law, passage must remain free from customs duties and charges, the UN shipping agency based in London said. The IMO emphasized that any agreement among coastal states in the region must guarantee nondiscriminatory, unobstructed right of passage for all vessels.
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Donald Trump announced he will address the nation in prime time on Thursday, a move that comes amid a significant escalation of hostilities with Iran.
“President Trump will address the nation Thursday night at 9 p.m. Eastern (01:00 GMT Friday). Thank you for your attention!” Trump posted Monday on his social network Truth.
US missions in the UAE suspend consular appointments
The United States announced the suspension of consular appointments in the United Arab Emirates for three days beginning Monday, due to rising military tensions in the Gulf region.
The US Embassy in Abu Dhabi and the US Consulate General in Dubai have canceled consular appointments from July 13 to 15 because of the regional security situation. If you have an appointment scheduled for those dates, please do not go to the embassy or consulate. We will contact you to reschedule, the advisory said.
Iran’s foreign minister mocks Trump’s fee to protect ships in Hormuz
Iranian Foreign Minister Abbas Araqchi ridiculed President Donald Trump’s proposal to charge fees to protect ships transiting the Strait of Hormuz and said his country would charge a cheaper toll.
“Whoever guarantees the safe passage of commercial vessels through the Strait of Hormuz should receive compensation for that service. Iran has always been the GUARDIAN of the strait and will remain so FOREVER. Twenty percent is, of course, too much. We will be fair,” the minister wrote on social media, referring to the fee proposed earlier by Trump.
Oil prices jump more than 9%
Oil prices surged on Monday, driven by the United States’ reinstatement of a naval blockade on Iranian ports and Washington’s intention to impose a toll on ships transiting the Strait of Hormuz.
By 18:20 GMT, the North Sea Brent benchmark rose 9.06% to $82.90 a barrel. Its US counterpart, West Texas Intermediate (WTI), climbed 9.05% to $77.87 a barrel.
US naval blockade of Iran to begin Tuesday
The United States will begin enforcing a naval blockade against all Iranian ports and oil terminals on Tuesday, the Joint Maritime Information Center (JMIC) of the US-led Combined Maritime Forces said in a statement on Monday.
The JMIC said the blockade would apply to all vessels regardless of flag. It added that the blockade would not prevent neutral traffic transiting the Strait of Hormuz to or from destinations outside Iran.
Humanitarian shipments will be allowed subject to inspections, the JMIC added.
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Saudi-led coalition says it responded to Houthi ballistic missile attack from Yemen
The Saudi-led military coalition intervening in Yemen since 2015 said on Monday it had responded to a ballistic missile attack launched by Houthi rebels, after the group accused Riyadh of bombing Sanaa International Airport.
“Air defenses have responded to a ballistic missile threat launched by the terrorist Houthi militia towards the southern region,” Turki al-Malki, spokesperson for the Coalition to Support the Legitimacy in Yemen, said on X.
European bourses close marginally higher amid Middle East uncertainty
European stock markets closed slightly higher on Monday after a session marked by the resumption of hostilities and rising oil prices, along with concerns about the tech sector and the outlook for interest rates.
London closed up 0.01%, Paris gained 0.31%, Frankfurt 0.19%, Milan 0.37% and Madrid 0.25%.
Guterres warns about military escalation in the Gulf after US and Iranian attacks
UN Secretary-General António Guterres expressed concern on Monday about US strikes on Iran and Tehran’s attacks on vessels in the Strait of Hormuz and on neighboring countries.
Guterres voiced his “deep concern over the serious escalation following the resumption of military confrontations in the Gulf region,” his spokesman Stéphane Dujarric said.
Oil rises more than 4% as US-Iran tensions grow
Oil prices climbed strongly on Monday, with West Texas Intermediate trading at $74.53 a barrel, up 4.37%, while Brent rose 4.30% to $79.28. The gains came amid mounting military tension between the United States and Iran, which revived doubts about the security of shipping through the Strait of Hormuz.
The energy rally also affected equity and bond markets: the VIX volatility index jumped 7.77%, while US Treasury yields rose across the curve — the 10-year up 0.63% and the 5-year up 0.88% — reflecting investor caution about an escalation that could disrupt global energy trade for an extended period.
CENTCOM confirms first combat use of maritime drones: struck an Iranian naval base in Bandar Abbas
US Central Command (CENTCOM) reported that its forces successfully struck a maintenance facility for submarines and vessels in Iran using multiple expendable attacking aerial drones. The command said three Corsair model unmanned surface vessels struck the port at Bandar Abbas Naval Base.
According to CENTCOM, the strike marked the first time US forces used maritime drones in combat. The command said the overnight strikes “degraded Iran’s ability to continue attacking commercial shipping,” amid the military escalation that has put transit through the Strait of Hormuz on edge.
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Trump says the US will charge a 20% fee to protect ships in the Strait of Hormuz
President Donald Trump said the Strait of Hormuz is and will remain “OPEN,” with or without Iran, and that the United States is reinstating what he called the “IRAN BLOCKADE,” so named, he explained, because it would only prevent Iranian ships or customers from entering or leaving.
“All other countries will have fair and open use of the strait,” the president wrote on Truth Social.
Trump said that from now on, the United States would be known as “THE GUARDIAN OF THE STRAIT OF HORMUZ,” and stated that, “as a matter of FAIRNESS,” the country would be reimbursed at a 20% rate on all cargo transported, to cover the costs necessary to provide security to “this very volatile section of the world.” “The process and training will begin immediately,” the president concluded.
The announcement deepens Trump’s rhetoric around the strait, after earlier stating in an interview with Fox that Washington would become the “guardian” of the waterway and would be compensated for its custody, amid the military escalation with Iran and Tehran’s warning that it would consider “an act of war” any Gulf cooperation with the United States in managing the passage.
See the full report at this link.
Revolutionary Guards accuse the US of endangering global oil supplies by “interfering” in Hormuz
Iran’s Revolutionary Guards accused the United States on Monday of endangering global oil and gas supplies by “interfering” in the Strait of Hormuz, following the resumption of hostilities between the two countries. IRGC spokesman Hosein Mohebi said the United States “must be held accountable” for jeopardizing the security of global energy supplies.
In a post on X, Mohebi added that Tehran “will continue to exercise its sovereignty and management of the Strait of Hormuz,” signaling that Iran is unwilling to cede operational control of the waterway despite US pressure.
The accusation follows an earlier warning from the Khatam Al-Anbiya military command, which called any Gulf cooperation with Washington over the strait “an act of war,” after President Donald Trump said the United States would become its “guardian” and should be compensated for safeguarding it.
Wall Street opens lower as US-Iran escalation and semiconductor declines hit markets
US stocks opened mostly lower on Monday morning as markets weighed higher oil prices and weakness in semiconductor shares, while investors looked ahead to upcoming corporate earnings and economic data. Crude prices rose more than 3% amid rising US-Iran tension, renewing concerns about oil infrastructure in the Strait of Hormuz.
US semiconductor stocks fell early following a poor session on South Korea’s Kospi, led by a sharp decline in SK hynix. About 10 minutes after the open, the Dow Jones was up 0.1% at 52,676.53 points, while the S&P 500 was down 0.4% at 7,547.53 and the Nasdaq Composite fell 0.9% to 26,039.50.
“Tensions with Iran, which are intensifying, are pushing oil prices higher, and that is lifting Treasury yields, while the sell-off in SK hynix is weighing on memory-related stocks, which in turn pressures the Nasdaq and S&P,” said Art Hogan of B. Riley Wealth Management. This week’s agenda includes earnings from major US banks, a congressional appearance by Federal Reserve Chair Kevin Warsh, and the latest consumer price index data.
Iran warns Gulf countries: cooperating with the US in the Strait of Hormuz will be considered “an act of war”
Iran’s military warned Gulf states on Monday that any cooperation with the United States in managing the Strait of Hormuz would be considered “an act of war,” as hostilities between Tehran and Washington resumed. A spokesperson for the Khatam Al-Anbiya military command delivered the warning in a video message to regional nations.
The same spokesperson said Iran “under no circumstances will allow… the United States to interfere in the management” of the strategic waterway, a statement intended to deter Washington’s regional allies from joining any joint management scheme for the strait.
The statement came hours after President Donald Trump said his country would become the “guardian” of the Strait of Hormuz and should be paid to protect it, amid the military escalation that has put the key energy trade route on edge.
Trump says the US is “taking control” of the Strait of Hormuz
President Donald Trump said on Monday that the United States was “taking control” of the Strait of Hormuz after several days of exchanges of strikes with Iran in this crucial maritime corridor. “We are taking control of the strait. They have nothing. They have nothing,” Trump said in an interview with Fox News, referring to what he described as Iran’s military vulnerability.
The president added that the United States would become the “guardian” of the strait and should be paid for protecting it. “We will become the guardian of the strait (…) And we should be compensated for that,” he said in the phone interview.
He also issued a strong warning to Iran after the breakdown of the existing military arrangement, saying US strikes had damaged much of Iran’s equipment overnight. “Most of their equipment no longer exists. Their anti-aircraft guns — we hit them very hard last night,” he said. “Every time they send a drone, we hit them very hard.” Trump said Washington had reached an agreement with Tehran that was then breached: “We had an agreement… and they broke it. They always break it. So we are going to hit them very hard and we are going to keep the strait, and we will probably manage it.”
The statement comes amid a dispute over control of the strait, after Iran threatened to close it and fired “warning shots” at ships attempting to cross, while Washington insists maritime traffic continues to flow normally despite the military escalation.
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Video: US releases footage of new wave of strikes against Iran
US forces completed a new wave of strikes against Iran on Sunday, hitting dozens of targets in multiple locations with precision munitions, US Central Command (CENTCOM) said. According to the command, air defenses, coastal radars, missile and drone capabilities, and small Iranian vessels were struck using combat aircraft, warships, and single-use attacking aerial and maritime drones.
Iranian media reported Sunday on missile strikes and explosions around the port cities of Sirik and Bandar Abbas — where military installations near the strait are located — and the nearby island of Qeshm. Iran’s foreign ministry condemned the US attacks over the weekend as “aggressive.” Reuters could not independently verify the location or date of the footage, and no prior version of the video was found online before July 12.
The Houthis say they will retaliate for the attack on Sanaa airport
The Iran-backed Houthis in Yemen said on Monday they would respond to the attack on Sanaa airport, which they blamed on Saudi Arabia, though the Yemeni government allied with Riyadh claimed responsibility. Houthi military spokesman Yahya Saree accused Saudi Arabia of “ending the phase of calm and assuming full responsibility for the consequences of its aggression.”
Saree also warned that “this aggression will not go unanswered or unpunished,” suggesting the rebels may escalate their actions amid regional tensions linked to the US-Iran confrontation.
Yemeni government claims responsibility for Sanaa airport strike; Houthis blame Saudi Arabia
The internationally recognized Yemeni government said on Monday it attacked Sanaa airport after a dispute over an Iranian plane that was carrying a Houthi delegation; the government accused the Houthis of preventing Yemeni aircraft from landing while allowing an Iranian plane to violate Yemeni airspace, and therefore said it struck the airport runway, the defense ministry said. Earlier, the Houthi channel Al Masirah reported that “the Saudi aggression hit the takeoff and landing strips of Sanaa International Airport.”
The Houthis, backed by Iran, said on Monday they would respond to the attack on Sanaa airport, which they had initially blamed on Saudi Arabia, while the government allied with Riyadh claimed responsibility. Houthi military spokesman Yahya Saree accused Saudi Arabia of “ending the phase of calm and assuming full responsibility for the consequences of its aggression,” and warned: “We affirm that this aggression will not go unanswered or unpunished.”
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Bahrain intercepted Iranian drones and missiles amid reports of strikes in southern Iran
Bahrain’s military said on Monday that its air defenses intercepted and destroyed several Iranian missiles and drones launched during the day, after the Revolutionary Guard claimed to have attacked US military facilities in the Gulf, including bases on Bahraini territory. Bahrain’s Defense Forces accused Iran of continuing to target the kingdom’s civilian population.
Meanwhile, semi-official Iranian agency ISNA reported that a US strike on a target in Isfahan province in central Iran killed one person and wounded seven in the early hours of Monday, according to the province’s deputy governor for security. Iran has not released an official casualty tally since the resumption of large-scale exchanges of strikes last week, but state media reports and statements about individual incidents suggest about 20 people have died in renewed US bombardments. At the start of the conflict, thousands had died, mostly in Iran and Lebanon.
Bahrain’s military accuses Iran of targeting civilians
On Monday, Bahrain’s armed forces accused Iran of targeting civilians in its recent strikes against the kingdom, after Tehran said it had struck US military installations and infrastructure there.
“Iran continues its systematic hostile behavior through its atrocious missile and drone attacks directed at civilians in the Kingdom of Bahrain,” the command said in a statement, adding that air defenses “intercepted and destroyed several Iranian aerial attacks” Monday morning.
Iranian media report explosions near the Strait of Hormuz
Explosions of unknown origin were heard on Monday in southern Iran near the Strait of Hormuz, a news agency reported, following an exchange of strikes between Tehran and Washington.
“Media outlets and residents reported hearing explosions near Bandar Abbas and the island of Qeshm at midday on Monday,” Mehr news agency said, adding that the explosions “appear to have come from the west coast of Bandar Abbas.”
Iran says it is still talking to mediators to “avoid escalation” with the US
Iran said on Monday it continues diplomatic contacts with mediators Qatar, Pakistan and Oman to “avoid escalation” with the United States amid renewed hostilities.
“The role of the mediators is to continue their efforts to prevent an escalation of tensions,” the Foreign Ministry spokesman Esmail Baqai said, adding that Tehran had been in contact “in recent days” with Qatar and Oman — both targets of Iranian military actions — as well as Pakistan.
Iran says it will cease compliance with the agreement if the US does not meet its commitments
Iran announced on Monday that it would stop observing the memorandum of understanding with the United States if Washington did not fulfill its commitments to end the war.
“Whenever the other party has not fulfilled its obligations, we have not fulfilled ours… We will continue to act in this manner,” Foreign Ministry spokesman Esmaeil Baqaei said at a press conference in Tehran after the latest wave of hostilities between the two adversaries.
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