US President Donald Trump warned on Friday night that military strikes against Iran will resume if no nuclear deal is reached before the current ceasefire expires. “The blockade is going to remain,” Trump said, adding that “we’ll have to start dropping bombs again” if talks fail.
When asked whether he would extend the ceasefire, Trump said: “I don’t know. Maybe I won’t extend it.” However, he also expressed cautious optimism, stating “I think it’s going to happen” regarding a final agreement.
The warning comes a day after Iran’s Foreign Minister Abbas Araghchi declared the Strait of Hormuz “completely open” for all commercial vessels during the ceasefire period. Iran has separately cautioned that it could close Hormuz again if the US maintains its naval blockade.
Oil prices have continued their downward slide following the Hormuz reopening. Brent crude fell to approximately $88 per barrel on Friday, down from $90.93 on Thursday evening, as markets priced in increased supply flows through the strait.
For Sri Lanka, the developments present a double-edged scenario. The Hormuz reopening and falling oil prices ease immediate fuel procurement pressures, with the Ceylon Petroleum Corporation having already secured 12 shipments. But the threat of renewed hostilities keeps the medium-term energy outlook uncertain.
A second round of US-Iran nuclear talks is expected to take place on Monday in Islamabad, Iranian sources told CNN. The Russian oil sanctions waiver has also been renewed through May 16.
Opposition leader Sajith Premadasa has already called for fuel price cuts citing lower global oil prices, a demand that gains further traction with Brent now at $88.
