Iran Resists Calls for Truce Amid Escalating US Warnings from Trump

Defiance characterized Iran's stance as explosions rocked Tehran on Tuesday, with the nation refusing to seek a ceasefire despite heightened threats from US President Donald Trump regarding the strategic Strait of Hormuz.

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The conflict, sparked by the February 28 US-Israeli strikes that killed supreme leader Ayatollah Ali Khamenei, has engulfed the Middle East and disrupted energy markets, with Tehran vowing to halt crude exports from the Gulf if the bombardment continues.

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The Pentagon's announcement of its most intense strikes to date has not swayed Iran, which remains resolute in the face of pressure, according to Iranian parliament speaker Mohammad Bagher Ghalibaf, a former top Revolutionary Guards commander.

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Ghalibaf stated in an English-language post on X, "Certainly we aren’t seeking a ceasefire," and emphasized the need to punish the aggressor and deter future attacks on Iran.

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US Defense Secretary Pete Hegseth had previously declared that Tuesday would be the most intense day of strikes inside Iran, with the most fighters and bombers deployed.

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Iranian attacks on shipping have resulted in the closure of the strategic Strait of Hormuz, a vital waterway through which a quarter of the world's seaborne oil and a fifth of all LNG normally pass.

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Trump warned Iran against mining the strait, cautioning that failure to remove any mines would result in unprecedented military consequences, as stated in a post on his Truth Social platform.

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This warning followed a report by CNN, citing anonymous sources familiar with US intelligence reports, that Iran had begun laying explosives in the waterway.

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Two rounds of explosions shook Tehran on Tuesday evening, with AFP journalists reporting no immediate information on the intended targets, while a local woman expressed concern about the disturbing noise of the bombings.

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Iran's Revolutionary Guards responded by announcing a fresh salvo of missiles against Israeli cities and US targets in the region, with explosions later heard in Bahrain's capital Manama.

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The Pentagon reported that about 140 US military personnel have been wounded since the start of the war, with the majority suffering minor injuries, and seven deaths already announced.

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Volatile oil prices slid on Tuesday after US Energy Secretary Chris Wright announced the navy had escorted a tanker through the Strait of Hormuz, but the post was later deleted, and the White House denied the operation took place.

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The UAE's biggest oil refinery at Ruwais was closed as a precaution after a drone attack on the industrial complex caused a fire, according to a source familiar with the situation.

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A driver working at the complex described seeing "bursts of fire rising from the complex, with loud sounds like explosions," while Qatar reported ongoing Iranian attacks on its civilian infrastructure, with explosions heard in Doha.

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Saudi oil giant Aramco's president and CEO Amin H. Nasser warned that the disruption to oil markets would have catastrophic consequences for the global economy if it continues.

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The UN trade and development agency cautioned that the Hormuz closure could increase the cost of essentials such as fuel and food for the world's most vulnerable people.

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In Egypt, where fuel prices have increased by up to 30 percent, mother-of-six Om Mohamed expressed concern about the future, saying, "We were barely getting by as it is. I don’t know how people will manage."

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Experts warned that the economic outlook remains extremely volatile, with analyst Ipek Ozkardeskaya noting that investors are overreacting to every bit of news, even when officials' statements contradict each other.

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Ozkardeskaya emphasized that the conflict in the Middle East continues at full speed, with no near-term resolution in sight and little clarity about US plans.