Exchange of attacks between Iran and the USA: How did we get here?

It was only last month that the United States and Iran signed a long-awaited Memorandum of Understanding in which they agreed to cease hostilities in exchange for the reopening of the Strait of Hormuz and the easing of certain financial restrictions imposed on Iran.

Although the two sides have exchanged limited attacks over the past month, the resumption of hostilities marks a significant escalation.

Iran and the US blame each other for the crisis, while US President Donald Trump said the ceasefire is "over".

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US launches new attacks against Iran after Trump declares end of peace agreement

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Tehran declared on Wednesday (8) that it would give an "overwhelming response", claiming to have launched missiles and drones against 85 US military targets in Bahrain and Kuwait, in response to the most recent wave of attacks.

Find out what happened in the last few hours:

First, on Tuesday (7), Iran launched attacks against three tankers traveling through the Strait of Hormuz. According to the regime, the vessels passed through an unauthorized route, close to Oman, one of the countries acting as mediators in the conflict.

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During his trip to Türkiye, Trump spent part of his time consulting with senior advisers on a response to the Iranian attacks, according to people familiar with the discussions.

On Tuesday night, US Central Command confirmed that it carried out a series of attacks against Iran. Among the targets were more than 60 small Islamic Revolutionary Guard Corps vessels.

In the early hours of this Wednesday (8), the Iranian army carried out new drone attacks. This time, against the Isa Air Base in Bahrain, which houses US forces.

Iran's Revolutionary Guards said they attacked US military installations in Bahrain and Kuwait.

This Wednesday morning (8), President Donald Trump stated that he believes the memorandum of understanding signed with Iran is "over."

"It's a waste of time negotiating with them," Trump said during the NATO (North Atlantic Treaty Organization) Summit.

Iran accuses the US of disrespecting the agreement - The Iranian Foreign Ministry said in a statement that responsibility for the recent escalation of hostilities lies with the United States, which had "violated treaties".

NATO Secretary-General Mark Rutte supported recent US attacks on Iran, telling journalists ahead of the military alliance's summit in Ankara that military action was "absolutely necessary."

US Secretary of Defense Pete Hegseth has canceled a planned visit to Israel this Wednesday (8), according to two Israeli sources, due to the recent escalation of tension.

Oil prices jumped more than 6% and stock markets around the world fell after the exchange of attacks and comments made by Trump this morning.

Why is the Strait of Hormuz so important to the world economy?

Source: CNN