Iran Says US Airstrikes Have Effectively Made Ceasefire Meaningless

Iran said recent US airstrikes have effectively made a ceasefire agreement meaningless, raising concern in markets about a renewed escalation in Middle East tensions.

Walter Bloomberg reported on June 11 that Iran’s Foreign Ministry said the US strikes carried out that day were broader and more intense than earlier attacks.

Iran argued that the US military action had rendered the ceasefire “meaningless,” though it did not formally declare its withdrawal from the agreement.

Iran also said it had launched retaliatory attacks against targets in Kuwait, Bahrain and Jordan. It did not disclose the scale of the damage or provide additional details.

The episode marks the third military flare-up this week involving Iran, Israel and the US.

The US and Iran have recently continued indirect talks over nuclear negotiations and sanctions relief, even as the risk of a military clash increases.

Markets are also weighing the possibility that a broader conflict in the Middle East could once again drive volatility in global oil prices and safe-haven assets.