Trump announces "crushing economic operation" on Iran with talks in limbo

“President Trump indicated the United States may eventually return to negotiations with Iran, but emphasized the current situation is “so good.” Meanwhile, Iran’s armed forces warned Gulf states against aiding the U.S., and the UAE halted trade with Iran after a missile threat. The U.S. blockade of the Strait of Hormuz has redirected 65 vessels since mid‑July, tightening pressure on Iranian oil exports and pushing oil prices to multi‑year highs. Expert Analysis: The renewed blockade and looming sanctions heighten geopolitical risk for U.S. energy markets, potentially driving short‑term price volatility while accelerating investment in alternative pipeline routes. Persistent tension could also force U.S. consumers and industries to confront higher fuel costs if diplomatic breakthroughs remain elusive.”