August 25, 2026
President Trump announced that the US Navy has cleared all mines from the Strait of Hormuz, a critical waterway that Iran has largely shut down since a Middle East war began in late February 2026. The strait's closure has caused significant oil price volatility, as approximately 20% of global oil and liquefied natural gas previously transited through it. Following the expiration of a 60-day negotiation deadline established in a June memorandum of understanding, the US has imposed new economic sanctions on Iran, while simultaneously maintaining a naval blockade of Iranian ports.
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Read full article from source: BBC