Iran rejects ‘delusions’ after Trump says he wants the Strait of Hormuz to be a U.S. territory

Key Points:

• Iran rejected U.S. President Trump's suggestion to declare the Strait of Hormuz U.S. territory, asserting that control over the strategic waterway remains solely under Iran's command and warning it will continue to enforce its blockade.
• The ongoing conflict, which began on February 28, has severely reduced tanker traffic through the Strait of Hormuz, with only two vessels passing on Friday and no crude oil shipments visible, contributing to sustained elevated global oil prices.
• Peace talks between the U.S. and Iran have stalled, with a 60-day negotiation period ending Monday without significant progress, and Iran's Foreign Minister confirming no current negotiations are taking place.
• The U.S. maintains its objectives of keeping oil and gas prices low for Americans and preventing Iran from acquiring nuclear weapons, while Iran denies any intent to develop nuclear arms.
• Recent incidents include Iran firing on ships attempting to transit the strait despite the U.S. blockade and a bulk carrier being struck by an unknown projectile in the Strait of Hormuz, though no casualties or environmental damage have been reported.