Iran has launched strikes on American targets in the Persian Gulf. Former President Donald Trump threatened that Iran will no longer exist. Iran responded it holds sole control of the Strait of Hormuz and dismissed the warning outright.
Recent strikes in the critical waterway could hinder a resurgent shipping recovery and risk toppling a fragile peace deal. Both Washington and Tehran have agreed to stand down after heated clashes over the waterway. Experts argue Iran’s bid to impose a tariff on Hormuz is an unlikely outcome. Industry watchers and traders remain uneasy over the narrow corridor’s uncertain future.