The political world is on fire right now after Donald Trump's bombshell announcement that he will not participate in Fox News' debate in Iowa on Thursday. This is the last debate before the pivotal vote in the Iowa caucuses on Monday. Fox News just released an official response to Trump, saying they will not give into "terrorization" from any political candidate. The statement says that Trump's campaign has refused to participate if Fox News host Megyn Kelly is a moderator.

"Capitulating to politicians' ultimatums about a debate moderator violates all journalistic standards, as do threats, including the one leveled by Trump's campaign manager Corey Lewandowski toward Megyn Kelly," part of the statement reads.

Here's the full statement:

Trump's feud with Kelly goes back to the last debate that Fox News hosted in August, when Kelly asked Trump about his past treatment of women. The candidate did not like the question, and in the days after the debate, he argued that Kelly had it out for him.

Here's a video of the exchange:

Related: Donald Trump's Remarks on Women Raised Eyebrows in the First GOP Debate

As for Thursday's debate, Fox News said that Trump is still invited, but they also said that Kelly will be there as well.