Trump says Iran ceasefire over but talks on deal to continue

Courtney Subramanian, Ben Bartenstein and Magdalena Del Valle, Bloomberg News on Jul 10, 2026

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WASHINGTON — President Donald Trump said the U.S. would continue talks with Iran but considers the ceasefire between the countries to be over. His administration quickly moved to add additional pressure on Tehran.

“The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!,” Trump said Friday on social media.

Hours later, the U.S. announced it was imposing sanctions on Iranian financier Ali Ansari, accusing him of managing a global network of assets for Supreme Leader Mojtaba Khamenei and other senior regime figures. Treasury Secretary Scott Bessent said in a statement that the goal is to isolate Ansari “and other regime elites from the global financial system.”

The moves followed several nights of U.S. airstrikes and Iranian retaliation that sent oil prices higher and raised doubts about further talks toward a broader peace deal. The recent tensions, along with a U.S. Treasury move to revoke a waiver allowing Iran to sell its oil globally, posed the biggest challenges yet to the interim peace deal between Washington and Tehran.

The new restrictions on Ansari mark the first new sanctions on the Islamic Republic since the U.S. and Iran signed the memorandum of understanding that included provisions to halt fighting and open a 60-day period for negotiations. That pact included a ban on the imposition of new sanctions during the period of talks.

On Friday, Iranian Foreign Ministry spokesman Esmail Baghaei rejected claims that Iran had requested talks, adding that any breach by of the U.S. of its commitments would be met by a “reciprocal response” from Iran.

Both sides have blamed each other for breaking the terms of the June 18 agreement, which also called for reopening the Strait of Hormuz. The U.S. accused Iran of attacking ships transiting Hormuz, a critical passageway for oil and gas supplies. Tehran says the U.S. is interfering with Iran’s right to manage the waterway under the interim deal.

The U.S. military launched strikes on Iranian targets this week, while Tehran hit back at U.S. bases in the region, including in Kuwait and Bahrain.

After two nights of strikes, however, Thursday brought calm with no further attacks by either country. Trump’s comments Friday are likely to ease fears of a return to all-out war. Oil jumped to session highs before retreating, while stocks fell before trimming losses after Trump’s post. Oil remains higher for the week, with observed transits through the Strait of Hormuz reduced substantially by the hostilities.

Mediators between the two countries, including Qatar, worked in recent days to ease tensions, according to a person familiar with the matter.

On Friday, Pakistan’s government said Prime Minister Shehbaz Sharif held a call with Iran’s president, expressing “deep concern over the recent escalation in tensions,” according to a post on X.

Trump’s post on Friday echoed his comments earlier in the week. At the NATO summit in Turkey on Wednesday, he suggested the ceasefire was “over,” but also said he would not prevent negotiations from going ahead. A U.S. official on Thursday night said that so-called technical talks would continue.

Iran remained publicly defiant.

“An attack on infrastructure will be met with a reciprocal response,” Iran’s Supreme National Security Council secretary, Mohammad Bagher Zolghadr, said Friday, extending the warning to Israel.

Separately, CNN reported that an analysis of satellite imagery suggested Iran may be rebuilding some of the suspected nuclear facilities that were destroyed this year and last when the U.S. and Israel coordinated strikes on the country. Trump has vowed that any deal will have to prevent Iran from bolstering its nuclear program.

Talks between the two sides slowed this week as the Iran held days of funeral rites for former Supreme Leader Ali Khamenei, who was killed in an airstrike on the first day of the conflict. Khamenei was buried on Thursday in the north-eastern city of Mashhad.

His son and successor, Mojtaba, has not been seen in public or appeared on video since taking on his new role, sparking questions over his health and involvement in negotiations with the U.S. The younger Khamenei was to hold a memorial ceremony for his father on Friday, his office said, spurring speculation he could make his first public appearance since the war.

Ship traffic through Hormuz, which revived after the deal was signed, slowed after the latest skirmishes. Hormuz has been largely closed since the start of hostilities. The shortfall in energy flows has pushed oil and gas prices up and forced countries to drain precious reserve stockpiles, a mounting risk to the global economy.

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With assistance from Tooba Khan.

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