Overview
- Tehran says broader reopening depends on the US lifting its naval blockade, returning about $15 billion in frozen assets, and removing sanctions.
- Iranian officials describe the strait as an economic lever, with a spokesman saying oversight could rival or even double oil income, and they outline IRGC control in the west and the navy in the east.
- Case-by-case passage is emerging, with Iraq arranging safe transit for two crude supertankers and Pakistan coordinating with Iran to move Qatari LNG toward its ports.
- Chinese-linked tankers have crossed the strait and some switched off transponders, testing US enforcement as President Trump meets Xi Jinping in Beijing.
- Risk remains high, with the UK maritime watchdog reporting a ship seized near the UAE, US forces enforcing the blockade, and the IEA warning supply losses are draining inventories and fueling price swings.