From the orange man’s mouth:

“As far as I’m concerned, it’s over,” Trump said at the ongoing Nato summit in Ankara when asked if the truce with Iran was now finished.

“It’s just a waste of time dealing with them,” AFP reported.

He blasted Iran’s leaders after Washington launched strikes on the Islamic Republic and Iran said it targeted US bases in the Gulf.

“They’re sick, there’s something wrong with them,” he said.

Treasury also re-instated oil sanctions on Iran.

The simple calculus is that the US was trying to re-open the Strait through Oman waters, and while they got a few ships thru, the Iranians stopped most of them hit some. As long as the Strait stays closed, the US is under pressure, because there is a physical economy, and reserves are running down, leaving aside shortages in fertilizer, helium and so on.

Iran just needs to keep the Strait closed to put pressure on the US homeland. As usual, the US can’t be hit directly by its enemies, so this is Iran’s way of hurting America even though its missiles can’t reach American cities.

On the other hand, the US can directly hit Iran, and if they didn’t actually want peace on the terms of the MOU, which apparently they didn’t (though I think this is a factional dispute inside the administration), then going back to hitting Iran makes sense.

Problem is that if the Iranian military does what it’s threatening to do, which is to blow the hell out of oil infrastructure in the Gulf States, the shortages will last years.

And the US isn’t leaving Iran with a lot of other options in terms of escalation.

Anyway, we’ll see what happens. Trump’s decisions have the consistency of runny jello, the real question is if the Iranian hard line faction wins their internal debate and is given the green light to go all out.

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