This week, a two-month window for peace talks expired without a clear path to end the US war with Iran. Global oil prices have continued to rise, traffic through Middle East waterways is muted and the Strait of Hormuz remains a key sticking point.
Still, Trump said Wednesday the “situation” with Iran “was so good,” as he threatened heightened sanctions and more economic pressure on Iran.
Here’s a recap of what happened this week:
- Monday: The 60-day deadline for the two sides to reach a deal toward ending the conflict passed, and Trump said there are no talks underway or scheduled with Iran. The US president told his envoys to halt their conversations with Tehran, a US official later said.
- Tuesday: Iran’s parliament speaker Mohammad Bagher Ghalibaf issued a list of demands he said the US must meet before the Strait of Hormuz reopens, including lifting sanctions on Iranian oil and ending military threats. Shortly after, Trump posted an image on social media showing the Strait of Hormuz labeled as “New US Territory.”
- Wednesday: Trump threatened “crushing economic warfare” on Iran. The Iranian Foreign Ministry condemned the potential move and warned that those who order or implement the levies “are liable to prosecution and punishment.” The US also imposed new sanctions against Hezbollah and designated the Lebanese militant group as an Iranian proxy.
- Thursday: The USS Abraham Lincoln began its journey home, according to a source familiar, after an extended deployment during the Iran war that drew concerns for the crew’s mental health and morale. The USS George Washington arrived in the Middle East on Wednesday to relieve the Lincoln, the military said.
- Friday: China, a major trading partner of Iran, pushed back on Trump’s threat of an “economic D-Day,” saying the sanctions “do not fit the interest of any party.” In the US, drivers are paying nearly a dollar more per gallon for gas than this time last year, as refineries face a perfect storm of wartime obstacles.
