Iran has once again tightened control over commercial shipping in the Strait of Hormuz, which is a strategic waterway connecting Persian Gulf to global markets, by attacking vessels and imposing stricter transit measures in May 2026. To gain leverage with the United States and its allies, Iran is imposing strict transit controls and charging commercial vessels massive passage fees.
On Tuesday, after nearly eight weeks of war, the number of commercial ships passing through the critical global shipping chokepoint was one, according to S&P Global Market Intelligence. Then, on Wednesday, more ships tried to pass, and Iran attacked two cargo vessels in the strait. “They are reminding us that their threats to attack ships are genuine, and that’s enough to suppress traffic through the strait,” said Rosemary Kelanic, a director at Defense Priorities, a research organization focused on foreign affairs. Ships linked to Iran have passed through the strait, ship tracking data shows in New York Times reporting.
The tightening grip has already had devastating consequences for the US economy. In London and New York, economic analysts such as Valdis Dombrovskis have warned that the closure is pushing the global economy toward stagflation, with gas prices in Europe surging by 18% in recent weeks.
In Washington, the Trump administration has warned that Iran will be “blown off the face of the Earth” if U.S. warships are targeted, reported Democracy Now. Trump’s renewed threat to destroy Iran came as the Pentagon rebranded its war from “Operation Epic Fury” to “Project Freedom”, turning its focus to reopening the Strait of Hormuz to commercial traffic.