US-Iran ceasefire collapse proves businesses cannot wait out the war

THE fragile truce between the US and Iran didn’t just crack last week. It may have shattered.

In June, both countries signed a memorandum of understanding (MOU), seeking to formally end months of war. But US President Donald Trump declared the ceasefire “over” on Jul 10, following Iranian attacks on commercial tankers in the Strait of Hormuz.

What followed were multiple days of US airstrikes on Iran targets as well as Iranian missile fire towards Bahrain, Kuwait and Qatar. These attacks reintroduced a level of uncertainty in the global economy that businesses had hoped was behind them.