Overview
- President Donald Trump said he would declare the Strait of Hormuz U.S. territory in remarks reported Friday, a comment later called a joke by an anonymous White House official and sharply rejected by Iranian officials.
- Iran and Oman reported agreement on designated entry and exit corridors after weeks of technical talks, but both governments say the routing map alone does not restore full commercial transit.
- Attacks on commercial and state-linked vessels have continued, with the UAE blaming Iran for multiple strikes this week that included Abu Dhabi National Oil Company ships.
- Ship-tracking data show transits have collapsed from roughly 130 per day before the war to only a handful recently, pushing up freight, insurance and fuel costs for global markets.
- Tehran says reopening the strait will require Washington to end its naval blockade, lift sanctions, release frozen assets and address reparations, leaving negotiations fragile and verification sequencing unresolved.