Tehran and Muscat are working to restore limited shipping through the strategic waterway, while diplomatic efforts between Iran and the United States remain stalled and economic pressure on Tehran intensifies

Intercargo urges all sides to protect civilian seafarers and commercial shipping amid heightened security risks in the strategic waterway

Foreign Ministry spokesman Esmaeil Baghaei said Iran is determined to retain control over the strait, while a new round of talks with Qatar on the US deal is expected Wednesday

Iran's state news agency Mehr reported that Tehran accused the United States and Israel of violating the ceasefire set out in a memorandum of understanding underpinning.

25 commercial vessels crossed the strategic waterway on Thursday, five times above the early-June daily average, following the US-Iran preliminary agreement

VP JD Vance says any agreement with Iran will include a two-stage verification process and that Washington expects the Strait of Hormuz to remain open without transit fees

The bloc targets an IRGC naval unit and two individuals over actions it says threatened freedom of navigation through the key oil shipping route, marking the first use of its new sanctions powers on the issue.

The United States has temporarily halted a naval operation to escort commercial ships through the Strait of Hormuz as President Donald Trump cites progress toward a potential agreement with Iran amid ongoing tensions in the region

Washington and Bahrain have proposed a UN-backed resolution that could lead to sanctions on Iran and pave the way for a multinational maritime coalition to secure shipping through the Strait of Hormuz

More than 90 countries issued a joint statement at the United Nations urging maritime security and stability amid rising tensions in the vital shipping corridor

Tehran has proposed to the US a deal focused on reopening the Strait of Hormuz and ending the war, while deferring nuclear talks to a later stage. The White House received the proposal but has not committed to engaging with it

Global oil markets are facing unprecedented disruption as conflict in the Middle East restricts flows through the Strait of Hormuz. Industry leaders warn the loss of supply could reshape energy, food, and industrial markets worldwide, with risks extending beyond oil

Oil prices fell by more than 9% following Iran's announcement

Tehran says all commercial vessels can pass freely through the strategic waterway for the duration of the Lebanon ceasefire, linking the move to the broader truce in the region.

The US and Iran may be preparing for a new round of negotiations this week aimed at de-escalating the conflict.