US President Donald Trump has formally notified Congress that hostilities with Iran have resumed. The letter, disclosed by The New York Times, details his authorization as commander in chief for defensive strikes on July 7.
The strikes targeted over 80 sites, including air defense systems and small boats of the Iranian Revolutionary Guard. This action was a response to Iranian attacks on commercial vessels in the Strait of Hormuz.
The development marks the end of a temporary ceasefire and significantly raises tensions. It carries potential implications for regional stability and US domestic politics.
Market activity now suggests an increased probability of Iran implementing a full airspace closure by July 31. The possibility of the US officially declaring war on Iran remains low, according to current market pricing.
Observers are monitoring the Civil Aviation Organization of Iran and US congressional responses for further indicators of escalation.