Overview
- President Trump, who departed for Beijing on Wednesday, said the U.S. will end the Iran war “peacefully or otherwise” and does not need China’s help to reopen the Strait of Hormuz.
- The U.S. Navy is enforcing a maritime blockade with the carrier Abraham Lincoln, redirecting 65 commercial ships and disabling four, as officials claim control over traffic through the strait.
- Iran has tightened its hold on Hormuz, with sources saying Tehran cut deals with Iraq and Pakistan to move oil and LNG, and an IRGC official broadening the strait’s defined control zone.
- Kuwait accused an IRGC team of trying to infiltrate Bubiyan Island on May 1 near a China-backed port project, detaining four suspects as Tehran denied hostile intent, underscoring tensions before the summit.
- War costs and energy risks are mounting, with the Pentagon putting U.S. spending at about $29 billion and the IEA warning global supply in 2026 could undershoot demand by 3.9 million barrels a day due to disruptions.