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Iran Claims Control of Strait of Hormuz Passage, Sees Rapid Oil Windfall From Trump Deal

Ailin Vilches Arguello

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People drive past an anti-US billboard depicting US President Donald Trump and the Strait of Hormuz, in Tehran, Iran, May 17, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

Iran has quickly moved to tighten its grip on the Strait of Hormuz while reaping an immediate surge in oil revenues amid eased export restrictions, as stalled negotiations with Washington deepen uncertainty over the US-Iran memorandum of understanding and raise concerns about the deal’s viability.

Less than a week after signing a controversial agreement with Washington, the Iranian regime is already testing key provisions of the accord while capitalizing on a flood of new oil revenue after narrowly avoiding total economic collapse.

According to tanker-tracking firm TankerTrackers.com, Iran exported roughly 18 million barrels of crude oil over the past five days, generating an estimated $1.44 billion in revenue as sanctions relief and eased export restrictions under the newly signed agreement revived the country’s oil trade.

Iran’s oil exports plunged by more than 70 percent after a US naval blockade of Iranian ports took effect in mid-April, triggering a sharp collapse in overseas shipments.

Even as Iran’s national oil company reduced production to avoid severe bottlenecks with storage facilities nearing capacity, the country was rapidly running out of available space, pushing the regime toward a full-scale production crisis.

With export restrictions now lifted, the regime appears to be drawing down accumulated stockpiles as oil shipments rebound, a development that could help sustain elevated export volumes in the weeks ahead.

The US blockade on Iranian ports had prevented the regime from exporting energy through the Strait of Hormuz — a critical global energy chokepoint through which about one-fifth of the world’s oil supply typically passes.

Iran has been using control over the strategic waterway as a major source of leverage, militarizing the passage and sharply restricting maritime traffic through one of the world’s most critical shipping corridors.

Now, even with the newly signed agreement requiring Iran to guarantee free navigation through the Strait of Hormuz, the regime’s newly created Persian Gulf Strait Authority (PGSA) has introduced new registration requirements for vessels, signaling Tehran may eventually seek to impose fees and additional controls on maritime traffic.

The PGSA announced new restrictions requiring vessels to submit compliant transit applications at least 48 hours in advance and provide valid, accessible contact information before being authorized to pass through the waterway.

Officials also noted that mandatory coordination of designated transit routes and passage schedules is required because of mine-affected areas and the need to ensure safe navigation while preventing maritime collisions.

According to the announcement, the Iranian regime said it will not collect any “tariff for security, safety, and environmental services, as well as related Iranian insurances” during the 60-day period in which Washington and Tehran are expected to negotiate a final agreement. The statement appeared to indicate the regime could try and charge tolls for passing the strait after 60 days.

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Meanwhile, multiple reports on Friday morning said that Iran’s Islamic Revolutionary Guard Corps (IRGC) read a statement over maritime radio channels warning vessels from entering the strait because the US was in violation of the memorandum of understanding, which US President Donald Trump and Iranian counterpart Masoud Pezeshkian signed on Wednesday.

“Since Israel’s withdrawal from Lebanon, the complete lifting of the naval blockade, and the withdrawal of American terrorist forces from the Persian Gulf and the region are among the main conditions of the agreement between Iran and the United States, the Strait of Hormuz will remain closed until these conditions are met,” the IRGC said. “All ships are requested, for the sake of their security and safety, not to approach the Strait of Hormuz. Any vessel that defies this directive will be targeted.”

The Algemeiner could not immediately verify whether the statement attributed to the IRGC Navy was accurate. However, Iran’s Foreign Ministry later said that the media reports were not true.

“The armed forces of Iran, in accordance with the memorandum of understanding to end the war dated June 18, 2026, have taken the necessary measures to ensure the safe passage of commercial vessels through the Strait of Hormuz, and shipping in this route is currently underway,” Iranian Foreign Ministry spokesman Esmail Baghaei said Friday, according to Iran’s Fars News Agency.

With the newly signed deal hanging in the balance, planned US-Iran negotiations in Switzerland were postponed as renewed fighting in Lebanon deepened uncertainty around efforts to secure a final agreement to end the war and address longstanding concerns over Iran’s nuclear program.

Israel and the Iran-backed Lebanese terrorist group Hezbollah later agreed to a ceasefire in Lebanon on Friday, potentially paving the way for US and Iranian officials to move ahead with the start of negotiations expected to address Iran’s stockpiles of enriched material and other nuclear-related issues in a final accord.

According to a statement from Iran’s Foreign Ministry, negotiations on a permanent agreement with the United States will begin only after key provisions of the memorandum are implemented, including a permanent end to the war in Lebanon, the complete lifting of the US blockade, the issuance of waivers for Iranian oil exports, and the release of frozen Iranian assets.

The 14-point memorandum calls for an immediate and permanent end to the war across all fronts, including Lebanon, with both sides pledging not to carry out hostile actions, threaten force, or interfere in each other’s internal affairs.

Under the agreed framework, the United States would lift restrictions on maritime traffic and restore normal navigation within 30 days, while Iran would ensure the safe resumption of commercial shipping through the Persian Gulf and the Sea of Oman.

Washington would also begin withdrawing forces from surrounding areas within 30 days of a final agreement being reached.

The memorandum further outlines a US-backed economic rehabilitation plan for Iran valued at a minimum of $300 billion and commits Washington to eventually lifting sanctions under a timetable to be determined during final negotiations.

In the meantime, the US Treasury Department would issue waivers allowing Iranian oil and petrochemical exports to continue, while frozen Iranian assets could gradually be released as talks progress.

Amid mounting criticism of the deal, US President Donald Trump once again defended the agreement, dismissing concerns over concessions granted to Tehran and insisting Iran remained in a weakened position despite the diplomatic breakthrough.

“The War has diminished Iran!” Trump wrote in a post on Truth Social on Friday. “We didn’t ​meet out of desperation, Iran did. They are FINISHED! We’ll play out the 60 days. They get no money, not ten cents!”

Trump’s vice president, JD Vance, has been the US official most publicly defending the deal. US Sen. Lindsey Graham of South Carolina, a leader in the Republic Party’s foreign policy establishment, called Vance the “architect” of the agreement.

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