Iran has reportedly ceased negotiations with the United States, according to state media. The Islamic Republic also declared its intention to completely block the Strait of Hormuz, a critical global shipping lane for oil.
The suspension of talks is attributed to recent Israeli military actions in Lebanon. Following these reports, global oil markets saw an immediate increase in prices, reflecting concerns over potential disruptions to crude shipments.
Iran has reasserted its control over the Strait of Hormuz as a deal with the U.S. remains elusive. This is a developing story and will be updated as details emerge.
