Hormuz

Iran will respond to the US' newest wave of strikes with an attack "several times larger," the semi-official Tasnim news outlet reported on Tuesday night, citing a senior Iranian military source.

Sources familiar with the matter told the WSJ that Trump is no longer interested in the MoU, which has been heavily criticized as a deal that is too soft on Iran.

Asked why Russian President Vladimir Putin agreed or committed not to attack NATO territory, Trump responded, “I had good conversations with him. He is not going to attack NATO territory.”

Although 14 to 15 million barrels of oil passed through Hormuz per day before the war, an expert told the Post that it was entirely possible to manage without much of that supply.

Saudi Arabia, like many countries in the region, has had its economy severely impacted by the war. The Saudi Finance Ministry is considering offering a cheaper insurance option to revive shipping.

Despite the apparent success of the US’s blockade and sanctions campaign, Iranian officials have repeatedly expressed that they would not falter in maintaining control over the Strait of Hormuz.

"Under President Trump, the Treasury Department will continue to cut off every economic lifeline sustaining this regime, until Tehran is left completely alone," Treasury Secretary Scott Bessent said.

"We will avoid our chartered vessels dealing in STS or anything to do with non-compliant ships for Middle Eastern cargoes," said one of the sources, who works at an Indian refinery.

Airpower temporarily shattered Iran’s arsenal, but the Hormuz Strait proved a harsher truth: the real fight is over the narrow corridor where even a weaker force can bend global power to its will

Under Articles 38 and 44 of UNCLOS, Iran cannot suspend, impede, or charge tolls for vessels passing through the Strait of Hormuz.