Key facts
- President Donald Trump stated Iran has agreed not to pursue nuclear weapons.
- President Donald Trump stated tolls in the Strait of Hormuz are unacceptable.
- US Vice President JD Vance announced the U.S. and Iran agreed in principle to a direct military communication channel.
- The direct military communication channel will be between Iran's Islamic Revolutionary Guard Corps and US Central Command.
- The direct military communication channel will be based in Doha.
- A Singapore-flagged cargo ship was hit by an unidentified projectile in the Strait of Hormuz.
- The cargo ship was subsequently fired upon.
- US officials attribute the attack on the cargo ship to Iran.
- The UN's International Maritime Organization has suspended its plan to escort ships through the Strait of Hormuz.
- Iran's PGSA warned ships against using unauthorized routes.
- Oil prices declined as tanker traffic through the Strait of Hormuz resumed.
- Over 50 ships have used a new Omani corridor to bypass Iranian-designated lanes.
President Donald Trump announced that Iran has agreed not to pursue nuclear weapons and stated that tolls in the Strait of Hormuz are unacceptable, asserting the waterway remains open and that Washington is negotiating from a position of strength. Concurrently, U.S. Vice President JD Vance revealed that the United States and Iran have agreed in principle to establish a direct military communication channel. This channel will be between Iran's Islamic Revolutionary Guard Corps and U.S. Central Command, based in Doha, with the stated aim of de-conflicting operations and preventing escalations.
However, a Singapore-flagged cargo ship was reportedly hit by an unidentified projectile and subsequently fired upon in the Strait of Hormuz, according to U.S. officials who attribute the attack to Iran. Following this incident, the UN's International Maritime Organization has suspended its plan to escort ships through the Strait of Hormuz, raising fresh concerns over maritime security in the vital waterway. Iran's PGSA also warned ships against using unauthorized routes, stating they would lose safe passage guarantees.
Despite the attack, oil prices declined as tanker traffic through the Strait of Hormuz resumed, easing supply concerns. This followed a surge in prices after the cargo vessel was struck near Oman. Over 50 ships have utilized a new Omani corridor to bypass Iranian-designated lanes. U.S. Secretary of State Marco Rubio affirmed strong ties with Gulf Arab partners during a visit to Bahrain, aiming to assuage fears over Iran negotiations. While a joint statement highlighted shared goals, Gulf officials expressed a need for their security interests to be fully incorporated into any final agreement.