Iran Rejects Ceasefire Amid Rising Tensions, Trump Warns of ‘Unprecedented’ Action

Iran has insisted it is not seeking a ceasefire as explosions continue in Tehran, with US President Donald Trump warning of unprecedented military consequences if the Strait of Hormuz is mined.

The crisis escalated after the February 28 US-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei, triggering the ongoing conflict. Tehran has vowed no oil shipments will leave the Gulf if bombardment continues.

Mohammad Bagher Ghalibaf, Iranian parliament speaker, said: “Certainly we aren’t seeking a ceasefire. We believe the aggressor must be punished and taught a lesson that will deter them from attacking Iran again.”

The Pentagon confirmed Tuesday would mark “our most intense day of strikes inside Iran — the most fighters, the most bombers,” according to US Defense Secretary Pete Hegseth.

Iranian attacks on shipping have effectively closed the strategic strait, a critical route for global oil and LNG. Trump posted on Truth Social: “If for any reason mines were placed… the military consequences to Iran will be at a level never seen before.” CNN reported, citing intelligence sources, that Iran had begun laying explosives in the waterway.

Two explosions shook Tehran Tuesday evening. Iran’s Revolutionary Guards launched missiles targeting US and Israeli interests, with explosions later heard in Manama, Bahrain.

The Pentagon said 140 US personnel were wounded since the conflict began, mostly minor injuries, and seven deaths have been reported.

Energy markets remain highly volatile. The UAE’s Ruwais refinery temporarily closed after a drone attack, and Qatar experienced continued blasts affecting civilian infrastructure.

Amin H. Nasser, CEO of Saudi Aramco, warned: “There would be catastrophic consequences for the world’s oil markets the longer the disruption goes on… It’s absolutely critical that shipping resumes in the Strait of Hormuz.”

The UN trade and development agency highlighted that disruptions could sharply increase fuel and food costs for vulnerable populations, with locals like Om Mohamed in Egypt expressing concern: “We were barely getting by as it is. I don’t know how people will manage.”

Analyst Ipek Ozkardeskaya said the conflict has created “rare market volatility” with no clear resolution in sight and ongoing uncertainty over US plans.

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