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US carries out fresh strikes against Iran after tanker struck in Hormuz, escalating hostilities - Headlines news and analysis from Global Banking & Finance Review
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US carries out fresh strikes against Iran after tanker struck in Hormuz, escalating hostilities 

Published by Global Banking & Finance Review

Posted on June 27, 2026

4 min read

· Last updated: June 29, 2026

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Iran and US agree to halt attacks and renew talks, U.S. official says

Renewed Diplomacy and Recent Hostilities in the Gulf

By Nandita Bose, Menna AlaaElDin and Yomna Ehab

WASHINGTON/CAIRO, June 28 (Reuters) - Iran and the United States agreed to halt recent hostilities in the Gulf and renew talks regarding their dispute over the Strait of Hormuz, a U.S. official said on Sunday, raising hopes of saving an interim peace deal that was under pressure from days of tit-for-tat strikes.

Technical Talks and Memorandum of Understanding

“Technical talks are slated to continue on all areas of the MOU. Both sides will stand down for now and vessels can move freely," the official said, referring to the 14-point memorandum of understanding that was agreed on June 17 under which the strait would be re-opened for traffic. 

Axios, which first reported the cessation of hostilities, citing a senior U.S. official, said talks would resume Tuesday in Qatar.

Background: Escalation and Ceasefire Violations

A return to diplomacy would follow several days of strikes and counterstrikes since an Iranian projectile hit a cargo vessel in the Strait of Hormuz on Thursday, with both the U.S. and Iran accusing the other of breaking an interim ceasefire that was agreed to on June 17.

Iranian and U.S. Military Actions

Iran launched missiles and drones at U.S. military sites in Kuwait and Bahrain early on Sunday, shortly after President Donald Trump threatened that the Islamic Republic would cease to exist if it did not honor the agreement to end the war.

Regional Impact and Israeli Involvement

Meanwhile, Israel said on Sunday it had once again struck Iran-backed armed Hezbollah militants in Lebanon, destroying underground infrastructure used by the group in a village in southern Lebanon. That came after another strike on Saturday, which closely followed its latest ceasefire deal with Lebanon on Friday. Iran says the fighting in Lebanon must end if the wider agreement is to stick.

Strait of Hormuz: Strategic Importance

The U.S. military said earlier it had struck Iran again, hours after a tanker was hit in the Strait of Hormuz, the world's most important energy shipping route, which Tehran has largely closed for most of the conflict.

Statements from U.S. Leadership

"There may come a point when we are no longer able to be reasonable, and will be forced to militarily complete the job that we very successfully started," Trump said on social media, before the Axios report.

"If that happens, the Islamic Republic of Iran will no longer exist!" he added.

The 14-Point Interim Peace Accord

The 14-point interim peace accord was meant to halt the fighting, which the U.S. and Israel started on February 28, and reopen the strait while talks proceeded on issues such as Iran's nuclear program.

Violence, Accusations Follow Peace Deal

Mediated Talks and Waivers

One round of mediated talks, led by Vice President JD Vance and Iran's parliamentary speaker, Mohammad Baqer Qalibaf, was held in Switzerland a week ago and Washington waived sanctions on Tehran, but fighting has since resumed and intensified.

Attacks in Kuwait and Bahrain

About an hour after Trump's post, Kuwait's army said its air defenses were responding to missile and drone attacks, while Bahrain said sirens had sounded there.

Iran's Islamic Revolutionary Guard Corps said in a statement its navy and air forces had launched missile and drone operations targeting U.S. military sites in Kuwait and Bahrain.

The Guards said U.S. strikes had violated the ceasefire and "will result in the complete halt of all diplomatic processes", state-run Press TV said. The IRGC navy command said American bases in the region "will experience hell in the coming days".

U.S. and Regional Responses

A U.S. official, confirming Iran had targeted U.S. facilities, told Reuters there were no reported U.S. casualties or major damage to U.S. sites in the Middle East but the situation was still unfolding.

Hours later, alarms sounded for a second time in Bahrain, where authorities said an Iranian attack damaged a residential building in Muharraq province, with no casualties reported. Bahrain urged the U.N. Security Council to hold an urgent session to hold Iran accountable.

The Kuwaiti army said it had intercepted two ballistic missiles with no damage or casualties.

Qatar Incident and Civilian Impact

Separately, Qatar said one of its nationals had died after sustaining injuries from shrapnel aboard a vessel that had gone missing on Saturday. A second person was injured in the incident, which was due to "military operations in the area", the interior ministry said, without giving a location or apportioning blame.

(Reporting by Reuters bureaux; Writing by Daniel Trotta, William Mallard and Alexander Smith; Editing by Kate Mayberry, Philippa Fletcher and Sanjeev Miglani)

Key Takeaways

  • The USS Central Command said the strikes targeted Iranian surveillance, communications, air defense, drone storage, and mine‑laying facilities, in response to continued ‘Iranian aggression against commercial shipping’—including a drone attack on the M/T Kiku carrying over 2 million barrels of crude. (dvidshub.net)
  • The Panama‑flagged tanker Kiku sustained bridge damage; all crew were reported safe, prompting the Joint Maritime Information Center to raise the threat level in the Strait of Hormuz. (seatrade-maritime.com)
  • This is the worst escalation since the interim peace deal was signed two weeks earlier, following a prior attack on the Singapore‑flagged M/V Ever Lovely and a cycle of tit‑for‑tat strikes between the US and Iran. (theguardian.com)

References

Frequently Asked Questions

Why did the US strike Iran in the Strait of Hormuz?
The US carried out fresh strikes against Iran after an Iranian drone attacked a Panama-flagged tanker in the Strait of Hormuz, citing continued Iranian aggression against commercial shipping.
What was the impact of the tanker attack in the Strait of Hormuz?
The attacked tanker sustained damage to its bridge, but all crew were reported safe. The incident heightened security threat levels and raised global concerns over shipping disruptions.
How has Iran responded to recent US military actions?
Iran claimed to have conducted defensive attacks on US-linked targets, asserted control over vital shipping channels, and fired warning shots at vessels not following Iranian-approved routes.
What role does the Strait of Hormuz play in global trade?
The Strait of Hormuz is a crucial maritime chokepoint, serving as the world's most important energy shipping route, where disruptions can impact global oil markets and trade.
Has there been an agreement to reduce hostilities between the US and Iran?
An interim peace deal was signed two weeks prior to these incidents, but both sides have accused each other of violating the agreement, escalating tensions once more.

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