Speaking at the NATO summit in Ankara on Wednesday, Trump told reporters: “As far as I’m concerned, it’s over,” adding of Tehran’s leadership: “They’re liars, they’re cheaters, they’re sick people.” He stopped short of saying that the US would resume full-scale war, and indicated that negotiators could continue negotiations if they wanted: “I would let my wonderful negotiators continue negotiations if they wanted, but I don’t see that happening.” For a market that has spent months separating political rhetoric from operational reality, this ambiguity matters: A ceasefire declared “over” at a press conference does not equate to a change in the facts on the water, but it does remove any residual pretense of the June 17 memorandum of understanding.
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