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Iran's military has ceased strikes against Israel, but will resume hostilities if the Israel Defense Forces continue to attack Lebanon, Tehran's Ministry of Foreign Affairs told CNBC on Monday.
Hours later, Israeli Prime Minister Benjamin Netanyahu said the war against Iran and its Lebanon-based proxy Hezbollah "has not yet ended," though he insisted both are weaker than ever.
Iran and Israel traded strikes Sunday night for the first time since the U.S. and Iran agreed to a fragile ceasefire in mid-April. The Islamic Republic fired missiles toward northern Israel after accusing Jerusalem of repeatedly violating the truce through its strikes on Lebanon, which included an attack on Beirut's southern suburbs on Sunday. Israel said it carried out a "large-scale strike on strategic defense systems" in response.
President Donald Trump said in a Truth Social post earlier Monday that, despite the latest outbreak of violence, both Israel and Iran "are looking to do an immediate CEASEFIRE!"
"Final negotiations on 'Peace' are proceeding, subject to ignorance or stupidity getting in its way," Trump wrote. He added that an ongoing U.S. blockade of Iranian ports in the Gulf of Oman will not be lifted "until a 'Final Deal' is reached."
"Things should move quickly," Trump claimed as the war, which he initially said would last four to six weeks, crossed the 100-day mark on Sunday.
In a prior post Monday morning, Trump said, "Israel and Iran must immediately stop 'shooting.'"
In a phone call with the Financial Times on Sunday, Trump said Netanyahu "won't have any choice" but to accept a deal that the U.S. negotiates with Iran, because "I call all the shots."
However, an Iranian official earlier Sunday appeared to cast doubt that any agreement with the U.S. was forthcoming, telling MS NOW, "a deal with President Trump is no longer feasible at this stage."
The official blamed Trump for the situation in Lebanon and the current escalation in hostilities.
As the dust settled, oil prices pulled back from session highs, having surged more than 5%.
— CNBC's Garrett Downs also contributed to this report.
