Overview
- The 60‑day memorandum of understanding between the United States and Iran expired this week, and both sides declined to extend it, leaving formal U.S.–Iran talks paused.
- President Trump said there are no talks scheduled, posted a map labeling the Strait of Hormuz 'NEW US Territory', and issued threats toward Oman while affirming the naval blockade remains in effect.
- Mediators led by Qatar and Oman continue to negotiate an Iran–Oman routing deal that Tehran says will only restore traffic if the United States meets broad MoU conditions such as lifting the blockade and releasing frozen assets.
- Maritime risk remains high: UKMTO reported a projectile struck a ship near Oman damaging its engine room and causing a crew casualty, and Kpler data show transits have fallen sharply to a fraction of normal volumes.
- The standoff keeps oil and LNG flows at risk because the strait historically carried about one‑fifth of seaborne global energy trade and further disruption could push prices higher and strain supply chains.