Fresh US strikes near the Strait of Hormuz have drawn sharp condemnation from Iran, threatening to derail a fragile ceasefire and complicate ongoing negotiations aimed at ending the conflict that has disrupted global oil supplies and regional stability.
Iran’s foreign ministry accused the United States of violating the nearly seven-week-old ceasefire after attacks in Hormozgan province early Tuesday. Iranian media reported explosions in the area, while Washington described the operation as defensive, saying it targeted missile positions and boats allegedly attempting to lay naval mines near the strategic waterway.
US Secretary of State Marco Rubio said negotiations to secure a broader agreement could still take “a few days”, despite earlier signs of progress between Tehran and Washington on an initial framework intended to halt hostilities and restore maritime traffic through the Strait of Hormuz.
FROZEN FUNDS EMERGE AS KEY STICKING POINT
The proposed preliminary agreement would reportedly establish a 30-day framework to reopen shipping routes and reduce fighting across the region, while leaving more difficult issues such as Iran’s nuclear programme for later talks.
Iranian negotiators are also seeking the release of roughly $24 billion in frozen Iranian assets as part of the deal, according to Iranian media reports. Reports said the issue has emerged as the main unresolved obstacle in efforts to finalise the memorandum of understanding between Tehran and Washington.
Iran has also pushed for an end to hostilities in Lebanon, where fighting between Israeli forces and Hezbollah militants has continued despite an April ceasefire.
OIL MARKETS REACT TO HORMUZ TENSIONS
The conflict, which began with US and Israeli strikes on Iran in late February, has severely disrupted energy markets. Traffic through the Strait of Hormuz — a key route for nearly one-fifth of global oil and liquefied natural gas trade — remains far below normal levels.
Iran’s Revolutionary Guards said 25 oil tankers and commercial vessels crossed the strait with Iranian permission over the past 24 hours. However, tensions escalated further after the Guards claimed Iranian air defences downed one US drone and engaged another drone and a fighter jet over the Gulf region.
Global oil markets reacted sharply, with Brent crude prices rising around 3.5 percent to nearly $100 per barrel amid fears of prolonged supply disruptions.
REGIONAL CONFLICT SHOWS NO SIGNS OF EASING
Iran’s Supreme Leader Mojtaba Khamenei declared that anti-US and anti-Israel slogans would continue to define the Islamic Republic’s stance, saying “the clock cannot be turned back”.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu said Israel was expanding military operations in Lebanon, where clashes with Hezbollah have continued despite the truce announced earlier this year.
US President Donald Trump has repeatedly said his main objective is to stop Iran from developing a nuclear weapon, an allegation Tehran denies.
INTERNET ACCESS PARTIALLY RESTORED IN IRAN
Inside Iran, internet monitoring group NetBlocks reported a partial restoration of internet connectivity following a nearly 90-day blackout imposed during the conflict.
The gradual return of online access comes as diplomatic efforts continue amid fears that renewed military escalation around the Strait of Hormuz could further destabilise the region and global energy markets.
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Published By:
Zafar Zaidi
Published On:
May 27, 2026 04:56 IST

56 minutes ago
