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Trump says MOU is ‘over’, calls Iranian leaders ‘scum’ following latest strikes

U.S. President Donald at the NATO Summit on July 08, 2026 in Ankara, Turkey. (Photo by Win McNamee/Getty Images)

(ANKARA and LONDON) — President Donald Trump said on Wednesday morning that he believes that the interim agreement reached with Iran last month is “over,” following an intense exchange of fire between the two sides on Tuesday into Wednesday morning.

Trump huddled with top advisers on Tuesday while attending the NATO summit in Ankara, Turkey, to discuss the U.S. response to several fresh attacks on commercial ships in the Strait of Hormuz early this week, multiple people familiar with the discussions told ABC News.

The U.S., Qatar and Saudi Arabia attributed the attacks to Iranian forces, allegations denied by Tehran.

Speaking with reporters in Ankara on Wednesday during a press conference alongside NATO Secretary General Mark Rutte, Trump said that negotiations between the U.S. and Iran will continue, but said of the agreement, “For me, I think it’s over.”

“I don’t want to deal with them anymore. They’re scum. You know what scum is? They’re scum. They’re sick people. They’re led by sick people,” Trump said of Iran’s leadership in response to a question from ABC News.

“And they’re vicious, violent people. And if they had a nuclear weapon, they’d use it. As far as I’m concerned, it’s over,” the president continued. “There’s something wrong with them, they’re cuckoo,” Trump added.

The president did, however, suggest that U.S.-Iranian negotiations over a final peace deal could continue.

The 14-point MOU committed the signatories to the reopening Strait of Hormuz for commercial traffic, with the U.S. lifting its naval blockade of Iranian ports. Iran also committed not to pursue nuclear weapons — a commitment Tehran has previously made — while the U.S. agreed to allow Iranian oil sales and to begin work on a $300 million reconstruction fund for the country.

Under the MOU, fighting — including between Israel and the Tehran-backed Hezbollah militia in Lebanon — would stop for 60 days while the U.S. and Iran negotiate the terms of a final deal, which would cover issues including Iran’s nuclear material.

“I’ll speak to our negotiators. They want to negotiate. They’re good people. Steve Witkoff, Jared Kushner, but they have to come back to me. As far as I’m concerned, it’s just a waste of time dealing with them,” Trump said on Wednesday.

“I’ll let our wonderful negotiators keep talking if they want, but I don’t see it,” Trump said later in the press conference, adding that he did not care whether talks continued after funeral proceedings for slain Supreme Leader Ayatollah Ali Khamenei concluded.

When the MOU was signed last month, Trump said the deal “achieves everything we set out to accomplish, everything and much more.” But key issues, including the status of Iran’s nuclear program, remained unaddressed.

The White House has demanded an end to all Iranian enrichment of uranium, a proposal repeatedly rebuffed by Tehran, which says it needs to enrich uranium to power its civil nuclear power network.

On Wednesday, the president again said his administration would accomplish the “denuclearization of Iran.”

“We’re going to de-nuke it. We’re not going to let them, because they’re crazy, and they can’t have a nuclear weapon,” Trump said.

Intermittent exchanges of fire have continued between the U.S. and Iran despite the signing of the MOU in June.

Since Monday, U.S. Central Command said Iran had attacked three commercial vessels transiting the Strait of Hormuz.

CENTCOM said it then launched retaliatory strikes on more than 80 Iranian targets, including air defense systems, command and control networks, coastal radar sites, anti-ship missile capabilities and small boats.

The U.S. also revoked a license that authorized the sale of Iran oil under the MOU in response to the tanker attacks, with one U.S. official telling ABC News that the incidents were “wholly unacceptable.”

Iran’s military said on Wednesday that it responded to the renewed American strikes by attacking 85 U.S. military sites in Kuwait and Bahrain.

Trump on Wednesday lauded what he called the “powerful” U.S. strikes, adding, “We hit them very hard.”

“I told them every time you hit, we hit, and of course they’re dirty players, so they go after everyone, probably including me,” the president continued, referring to alleged Iranian assassination plots in which Trump said he remains a target.

“They want to take out the U.S. leader — me. I’m on every list. I saw things this morning, I’m on every single one of their lists, and so far I guess I’ve been a little bit lucky, but that maybe doesn’t last very long, because that’s the way it goes,” Trump said.

Mohammad Bagher Ghalibaf, the speaker of the Iranian parliament who has been serving as Tehran’s chief peace negotiator, said in a post to X early on Wednesday that the U.S. had violated the MOU with its latest strikes.

“The era of bullying and extortion is over. It leads nowhere. We don’t fold,” Ghalibaf wrote.

Oil prices spiked on Wednesday after Trump’s comments, with U.S. oil trading at $74.62, up around 6%, and global oil at $78.70, up more than 6%. The price of global oil is still significantly down on a high of nearly $120 last month before the MOU was announced.

Traffic has been moving through the Strait of Hormuz in recent weeks, including through Tuesday despite the latest attacks on ships. Data from Kpler, a global energy analytics firm, showed more than 100 transits of ships through the Strait between July 5 and July 7, including 41 crossings on July 7.

ABC News’ Rachel Scott, Karen Travers, Justine Fishel, Isabelle Murray, Sarah Kolinovsky and Zunaira Zaki contributed to this report.

Copyright © 2026, ABC Audio. All rights reserved.

Want to buy a sports team? You better hurry, and bring a ton of cash

(CNN) — The Los Angeles Lakers, the Super Bowl champion Seattle Seahawks, a chunk of the New York Yankees. Teams are turning over at a rapid pace, driving valuations to stratospheric heights.One reason for the sales boom you might expect: There are an ever-increasing number of billionaires with the resources to buy teams. More demand, plus a limited supply of teams, equals higher prices.But experts also offered a surprising reason: artificial intelligence. Sports is believed to be a relatively AI-proof investment. Teams are not likely to be upended by the game-changing technology the way other investments might be.“I’m willing to bet odds are greater that in 100 years that the Yankees will be here compared to IBM being here,” said Sal Galatioto, a leading investment banker in the field of selling sports teams.Galatioto has been negotiating deals to buy teams, or a stake in teams, for 30 years. He said he’s never been busier.“People have never bought teams for cash returns,” he said. “You bought it for long-term appreciation, and ego gratification and scarcity value. You bought it like fine art. Now it’s a hedge against technology disruption.”There are a number of other businesses that may be AI-proof or even benefit from its growth, such as electric utilities, said Victor Matheson, an economics professor at the College of the Holy Cross and an expert in sports business. But he says sports teams are much “sexier.”“No one has ever dreamed of being CEO of (electric company) National Grid,” Matheson said. “But everyone dreamed of being the owner or manager of the Yankees”The gold rush is tangibleJust this month, former Disney CEO Bob Iger and venture capitalist Josh Kushner agreed to buy a controlling interest in the Lakers, in a deal valuing the team at a record $12.5 billion. Fenway Sports Group, which also owns the Boston Red Sox, reportedly sold 40% of Premier League club Liverpool to a consortium that includes Amazon founder Jeff Bezos.And last week, Major League Baseball approved the $3.9 billion sale of the San Diego Padres to a private equity billionaire and his wife. That beats the $2.4 billion hedge fund manager Steve Cohen paid for the New York Mets in 2020. Meanwhile, the National Football League moved closer to approving a record $9.6 billion sale for the Seattle Seahawks.On Friday, the NBA’s Minnesota Timberwolves and WNBA’s Lynx were sold in a deal valued at $4.5 billion.And baseball’s most valuable team, the Yankees, agreed this month to a $2.6 billion injection from Apollo Global Management, a private equity firm, for a minority stake in the team.Private equity’s growing interest in sports teams is another sign of the buying boom, said Irwin Kirshner, the head of the sports law group at the law firm Herrick Feinstein.“Every year (valuations) seems to go up more, and so I think private equity started to recognize the value of this opportunity,” Kirshner said.Media rights, sports betting help drive growthThe value of live sports broadcasts has never been higher. In the age of on-demand viewership, sports broadcasts are one of the only things people will watch with advertisements. The entry of streaming services such as Amazon, Apple and Netflix have only increased the rights fees.“Who knows what new technology will come out to distribute the games,” said Galatioto. “If you own the content, it doesn’t matter how it’s distributed.”Sports betting, legalized in a 2018 Supreme Court decision, has growing mainstream appeal, supercharging viewership. When people have money riding on an event, they’re more likely to watch two teams they otherwise would have little interest in.“You might have as much as a billion dollars a year in total gambling money being handed over to the teams and leagues,” said Matheson, including a new pool of sponsors. “And there’s the thought that people who are gambling more are more likely to tune in, which means more butts in the seats, as well as more eyeballs on the TVs.”Lastly, sports teams are a limited commodity — there are only so many available for sale.Some, like the Padres, only go on the block when their owner passes away. But there are also teams like the NFL’s New York Giants, who have been under the control of the Mara family for more than a century, that are willing to sell off a portion of their team.Selling minority stakes in sports teams is nothing new, but the practice has become more common. And the makeup of the buyers is also becoming broader: American investors are swallowing up European soccer clubs, while North American sports clubs are getting purchased by foreign investors.Many of these owners are counting on one fact: Even if they overpay or lose money in the short term, eventually selling the team will result in a big payday.“You can afford to overpay as long as you believe that there will be people in the future willing to overpay by at least as much or more,” said Matheson.The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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