news · July 8, 2026
Hormuz Crisis Deepens: Iran Mining Strait as U.S. Revokes Oil Waivers and Launches Military Strikes
Escalating tensions in the Strait of Hormuz are reshaping global shipping risk calculations, as the U.S. Navy accuses Iran of mining the waterway to funnel commercial traffic into Iranian-controlled lanes, while Washington revokes sanctions waivers and conducts new military strikes.