JUST IN: IRAN ENDS NEGOTIATIONS WITH US AND VOWS TO 'COMPLETELY' BLOCK THE STRAIT OF HORMUZ
June 01, 2026
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| Iran has announced it is ending all negotiations with the United States and is vowing to completely shut down the Strait of Hormuz, according to CNBC and Iran's state-affiliated news outlet Tasnim. |
Iran has announced it is ending all negotiations with the United States and is vowing to completely shut down the Strait of Hormuz, according to CNBC and Iran's state-affiliated news outlet Tasnim.
Iranian negotiators will stop exchanging messages with the U.S. through intermediaries, and Tehran will move to fully close the Strait of Hormuz in retaliation for what Iran describes as ongoing ceasefire violations.
Iran's Tasnim news agency stated that no dialogue will take place until Israel fully withdraws from occupied areas in Lebanon and halts all attacks in both Lebanon and Gaza.
In a major escalation, Iran and the resistance front have resolved to completely block the Strait of Hormuz and activate other strategic fronts including the Bab al-Mandeb Strait, in order to punish what Tehran calls "the Zionists and their supporters."
ECONOMIC IMPACT:
Iran's move to escalate its clampdown on the Hormuz Strait signals that oil exports from the Persian Gulf are unlikely to increase anytime soon. About a fifth of the world's oil supplies passed through the strait before the U.S. and Israel first attacked Iran on February 28, but shipping traffic has virtually halted since then. Oil prices, which had retreated in recent weeks on hopes of a deal, are expected to surge again on this news.
This dramatic reversal comes just hours after President Trump announced the U.S. naval blockade of the Strait of Hormuz would be lifted and that a peace deal with Iran was close.
This is a rapidly developing story. Stay tuned for further updates.
Sources: CNBC, Tasnim News Agency
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