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Oil prices surged by about 6% to $78 per barrel, while European stock markets fell by 1.6% after U.S. President Donald Trump declared that the Iran peace deal was “over” during the NATO summit in Ankara.
His remarks came after fresh overnight exchanges of attacks between Iran and the United States.Speaking at the summit, Trump described Iran’s leaders as “sick, evil and dirty players,” adding that dealing with them was “a waste of time.” Despite the strong comments, he said diplomatic talks could still continue through U.S. negotiators.
Trump also announced a suspension of U.S. trade with Spain, accusing the country of being an unreliable NATO ally after Madrid reportedly declined to allow American military bases on its territory to be used for operations against Iran. Spain, however, dismissed the move, insisting that relations remained “business as usual.”
Meanwhile, the European Union Aviation Safety Agency (EASA) has advised airlines to avoid flying through Iranian and Iraqi airspace until August 31 due to the ongoing conflict and rising security concerns across the Gulf region.
