US strikes Iran after drone attack on ship breaks new ceasefire
On Friday, the U.S. military launched retaliatory airstrikes against Iranian missile and drone sites after a Singapore-flagged cargo ship was struck in the Strait of Hormuz on Thursday.
The escalation threatens a fragile, weeks-old ceasefire agreement intended to end months of conflict and allow more than 11,000 stranded seafarers to evacuate the region. President Donald Trump condemned the drone strike as a "foolish violation" of the truce and ordered the strikes on Iranian coastal radar and storage facilities. In response to the violence, the United Nations' maritime agency has paused its large-scale operation to escort hundreds of commercial vessels safely out of the Persian Gulf.
Global markets are now monitoring whether this exchange marks a total collapse of the peace deal or a contained enforcement of its terms.
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