Iran Claims 'Complete Control' of Strait of Hormuz Amid Escalating War

Iran's Revolutionary Guards said Wednesday they control the Strait of Hormuz, a vital shipping route for oil and gas, and any vessels seeking to pass through the waterway risk damage from missiles or stray drones. According to Iranian media, the IRGC claimed over 10 oil tankers have been hit by artillery fire.

"Currently, the Strait of Hormuz is under the complete control of the Islamic Republic's Navy," said Guards Navy official Mohammad Akbarzadeh in a statement issued on Fars news agency.

Trump says US Navy could escort tankers

US President Donald Trump said Tuesday the US Navy was ready to escort oil tankers through a crucial Gulf shipping route, as he justified his war on Iran by saying he believed Tehran was about to strike first.

Trump has given often conflicting explanations for the joint US-Israeli attack on Iran, while the president who once campaigned to end to America's Middle Eastern wars has set out no firm endgame.

The attacks and Iran's fiery response have engulfed the Middle East -- while also causing global economic turmoil as shipping avoids the Strait of Hormuz near Iran, one of the world's most vital shipping lanes.

Trump, whose own boasts of economic revival are now also under threat ahead of midterm elections later this year, moved to calm the jitters by saying US warships could help.

"If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible," Trump said on his Truth Social platform.

The US president also ordered Washington to provide insurance for commercial shipping. US stocks cut their losses after the announcement, although crude prices continued to rise.

(With inputs from AFP)