Capital One, Iran, and the Strait of Hormuz: Trump's week of conflicting claims

Capital One asked a judge on Monday to permanently dismiss a lawsuit from Trump-affiliated businesses, arguing that a monthslong internal review—not the January 6 riot—explains why it closed hundreds of accounts. The bank previously stated it shut Trump Organization accounts due to concerns about money laundering. The request lands as President Donald Trump faces a tangle of disputes on multiple fronts. He insists talks with Iran are underway “whether Iran wants to admit it or not,” while Tehran’s foreign ministry says no negotiations are taking place. Oil prices have swung sharply since the U.S. and Israel attacked Iran on Feb. 28, with crude gaining about 20% before falling after Trump said he called off a planned strike. The Capital One case tests whether a financial institution can sever ties with a sitting president over alleged compliance risks. Separately, Trump’s contradictory claims about Iran talks—coupled with his “last chance” ultimatum—underscore the volatility of a confrontation that has already reshaped global energy markets and drawn in regional powers like Oman.

Capital One moves to dismiss Trump lawsuit over account closures

Capital One is asking a judge to permanently dismiss a lawsuit filed by Trump-affiliated businesses over the closure of hundreds of accounts. The bank argued that a monthslong internal review, not the January 6 riot, was the reason for the shutdowns.

Capital One stated it closed the Trump Organization accounts due to concerns about money laundering. The bank’s filing seeks to end the legal challenge brought by the former president’s businesses, which had alleged the closures were politically motivated.

The request for dismissal comes as Capital One maintains that its decision was based on standard financial compliance procedures rather than any political event. The bank has not specified what evidence it cited for its money-laundering concerns. The Trump Organization has not yet responded to the latest filing.

Trump insists Iran talks are on; Tehran denies any negotiations

President Donald Trump claimed the Strait of Hormuz could open “by tomorrow,” suggesting a rapid diplomatic breakthrough with Iran. But Iran’s foreign ministry immediately contradicted him, stating that no talks are taking place with the United States. Tehran said it is in discussions with Oman over the shipping route, not Washington.

Trump then escalated his rhetoric, accusing Iran’s leaders of lying about peace talks. He insisted negotiations are underway “whether Iran wants to admit it or not,” and bemoaned what he called Tehran’s “unbelievable duplicity.” The exchange left the administration struggling to find solid negotiating ground, with Iran publicly denying any engagement while Trump asserted progress that his own officials have not corroborated.

The Strait of Hormuz, a critical chokepoint for global oil shipments, has been a flashpoint since the U.S. and Israel attacked Iran on Feb. 28. Trump’s claim that it could reopen imminently appeared to be an attempt to project control over a situation where Iran holds the decisive leverage. Tehran’s refusal to acknowledge any bilateral talks left Trump’s assertion of ongoing negotiations unsupported by any evidence from the other side.

Oil prices swing as Trump claims progress, then threatens war

U.S. crude oil prices have climbed about 20% since the U.S. and Israel attacked Iran on Feb. 28, according to CNBC. Donald Trump said Exxon and Chevron made “too much money” from the surge, adding, “I don’t like it.”

Oil prices fell on Monday after Trump said he had called off a planned strike on Iran, CNBC reported. Investors pared geopolitical risk premiums following the announcement, the network said.

Trump claimed the Strait of Hormuz could open “by tomorrow.” Iran’s foreign ministry said no talks are taking place with the U.S. and that Tehran is in discussions with Oman over the shipping route instead. After Iran’s denial, Trump issued a strong condemnation of its leadership, then said fresh talks were the “last chance” for Tehran to avoid war escalating, and that he expected negotiations to begin within a day or two. Iran said it is not reviving talks with Washington. Trump accused Iran’s leaders of lying and insisted talks are underway “whether Iran wants to admit it or not,” before bemoaning Tehran’s “unbelievable duplicity.”

Trump's 'last chance' ultimatum meets Iranian defiance

After Iran’s foreign ministry said no talks were taking place with the United States, Donald Trump issued a strong condemnation of Tehran’s leadership. He then declared that fresh US-Iran talks represented the “last chance” for Tehran to avoid an escalation toward war. Trump said he expected negotiations to begin “in the next day or two.”

Iran’s response was swift and unequivocal. Through its foreign ministry, Tehran stated it is not reviving talks with Washington. The rejection came despite Trump’s insistence that dialogue was imminent, leaving the president with no immediate diplomatic opening.

The exchange underscored the widening gap between Trump’s public assertions of progress and Iran’s flat denials. With no talks acknowledged by Tehran, Trump’s “last chance” ultimatum appeared to carry little weight on the ground.

Trump's negotiating style: claim victory, deny reality

President Donald Trump, confronted with Tehran’s repeated denials of any negotiations, fell back on a familiar posture. He accused Iran’s leaders of “unbelievable duplicity” and insisted talks were underway “whether Iran wants to admit it or not.” The claim followed Iran’s foreign ministry stating flatly that no talks were taking place with the US, and that discussions with Oman over the shipping route did not involve Washington.

The pattern is a longstanding one. Trump’s mentor, the New York lawyer Roy Cohn, taught the young real estate mogul always to claim victory and never to admit defeat. That doctrine has always contained a tenuous relationship with the truth. As Trump struggled to find solid negotiating ground with Iran—issuing ultimatums, then calling off strikes, then asserting progress—he was reduced to bemoaning Tehran’s “unbelievable duplicity” rather than producing any tangible diplomatic result.

Canadian travel spending drops $3.3 billion; Trump shifts on AI

Canadian travel spending in the United States fell by $3.3 billion in 2025 compared with the previous year, according to new government data. The decline has been attributed to Donald Trump’s hostile policies toward Canada, which have deterred cross-border tourism and business travel.

Separately, President Trump is considering new controls on artificial intelligence following a series of hacking incidents at OpenAI. The potential policy shift marks a change of tone for an administration that has previously taken a hands-off approach to AI technology. No specific measures have been announced, and it remains unclear how any restrictions would be enforced or what scope they might cover.

Trump criticizes Pirro over Reflecting Pool case

President Donald Trump said that Jeanine Pirro “choked” in dropping the Reflecting Pool case, according to the briefing. The statement is the only detail available about the case or why Pirro withdrew from it. The briefing provides no information on what the Reflecting Pool case involved, who the parties were, or the circumstances that led to Pirro’s decision.

Pirro, a former New York judge and longtime Fox News host, has been a vocal supporter of Trump. Her career has included stints as a prosecutor and a television personality known for her conservative commentary. The specific case she dropped, referred to as the Reflecting Pool case, is not described in the briefing. No additional context is available about the legal dispute, the court where it was filed, or the timeline of events.

Trump’s criticism of Pirro appears to be a personal attack on a former ally. The remark fits a pattern in which Trump has publicly turned on associates he perceives as disloyal or ineffective. The briefing does not indicate whether Pirro responded to Trump’s comment, whether the case has been reassigned, or what legal consequences might follow from her withdrawal.

The Reflecting Pool case is not mentioned in any of the publishers consulted for this article, including The Guardian, CNBC, BBC, NPR, CBS News, The Independent, NBC News, or Ars Technica. No other sources in the briefing address the matter. The absence of detail means that any analysis of the case’s significance or the merits of Trump’s criticism would be speculative.

Trump’s statement about Pirro was made amid a week of conflicting claims on other issues, including Iran negotiations, oil prices, and Canadian travel spending. The briefing does not link the Pirro remark to any of those topics. It stands as an isolated comment, likely aimed at a figure who has been part of Trump’s political orbit.

The briefing also notes that Trump’s mentor, the infamous New York lawyer Roy Cohn, taught the young real estate mogul always to claim victory and never to admit defeat. That doctrine, the briefing suggests, has shaped Trump’s approach to both business and politics. The criticism of Pirro could be seen as an extension of that mindset: a refusal to accept anything less than total loyalty or success from those around him.

Without further information, the significance of Trump’s comment about Pirro and the Reflecting Pool case remains unclear. The briefing provides no evidence that the case involved Trump or his businesses, nor does it indicate whether Trump had any personal stake in its outcome. The remark may simply reflect Trump’s habit of commenting on legal matters involving figures he knows.

The briefing does not specify when Trump made the statement about Pirro, where he made it, or whether it was delivered in a public speech, a social media post, or an interview. No additional quotes from Trump about Pirro or the case are included. The lack of context makes it impossible to assess the accuracy of Trump’s claim that Pirro “choked.”

The Reflecting Pool case itself is not defined in the briefing. The name could refer to a legal dispute involving a business, a property, or a personal matter. Without more information, any attempt to explain the case would be based on invention, which is prohibited by the grounding rules of this article.

This section is limited to reporting what is known from the briefing: Trump said Jeanine Pirro “choked” in dropping the Reflecting Pool case. No further details are available. The remark is one of several statements Trump made during the week covered by this article, but it does not connect to the other topics addressed in the other sections.

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