Hatami’s message had three main elements:
These were statements of Iran’s claimed military and political position. They did not, by themselves, alter the strait’s international legal status or transfer sovereignty to Iran or the United States.
Hatami described the strait as a “God-given geopolitical asset” for Iran and said its strategic potential had been activated by the war. In Tehran’s framing, Hormuz is not merely a maritime passage: it is leverage over the conflict’s economic and diplomatic costs.
He argued that preserving this leverage was necessary to end the war and remove the threat of continued fighting. That helps explain why Iran has rejected a simple return to the prewar arrangement. The strait had previously been open to commercial traffic without the current Iranian permit-and-fee conditions, but Tehran has sought a more direct role in deciding who can pass and on what terms.
The available reports describe a system that combines restricted access, proposed charges and political screening of vessels. An advisory attributed to Iran’s Persian Gulf Strait Authority said ships needed a valid passage permit to transit and indicated that additional insurance-related fees could be imposed.
Other reporting described Iranian plans to charge roughly 5% to 7% of cargo value for passage. A proposal under review in Iran would bar ships linked to the United States, Israel and other “hostile countries,” while imposing penalties of up to 20% of cargo value for violations, according to reports based on Iranian state media.
The distinction between a proposed policy and an operating rule matters. The sources support the existence of Iranian plans, advisories and reported enforcement arrangements, but they do not show that every proposed fee, exclusion or penalty had become uniformly operational for all shipping.
Iran and Oman were reported to be close to an agreement on new shipping lanes through the strait. But Tehran repeatedly said that a route-management agreement alone would not fully reopen the waterway.
Iran linked reopening to broader U.S. actions, including lifting the naval blockade, ending sanctions, withdrawing forces and providing compensation for war damage. The United States, meanwhile, insisted on unimpeded commercial passage, while Trump added demands that Iran compensate people affected by wars, attacks and protests.
That left two separate questions unresolved:
The immediate, well-supported market effect was on oil. Constrained or halted tanker traffic raised concern about global supply, while the loss of confidence in a near-term diplomatic settlement added to price pressure. Reuters reported that oil settled about 5% higher in one session as competing U.S. and Iranian demands dimmed hopes for reopening the strait.
On August 17, Reuters reported that Brent crude settled $2.35 higher, or 2.65%, at $90.87 a barrel, as investors reacted to supply concerns and stalled diplomacy. The Wall Street Journal also reported higher oil futures as shipping remained constrained.
The material provided does not contain sufficiently reliable, source-backed figures for specific same-day moves in gold, Asian equities or the S&P 500. Those assets may have reacted to the broader risk environment, but precise claims about their performance should not be made from the evidence available here.
The Hormuz confrontation was unfolding alongside expectations of heavier U.S. economic pressure. Reuters reported that the Trump administration was preparing measures that Treasury Secretary Scott Bessent said would be unusually severe, while Iranian leaders feared further economic hardship and renewed domestic unrest.
Separate Reuters reporting said a senior Iranian official described a possible shift to a “fully offensive” posture if the interim understanding was not implemented and diplomacy failed. The report also referred to a possible operation to break the U.S. naval blockade. Because that account concerned a senior official’s reported warning—not a fully documented public policy change—it should be presented as a reported threat rather than an established operational decision.
The same caution applies to claims about specific Central Command diversions, vessel disablements and boardings, or a confirmed coordinated Iranian offensive posture. The supplied evidence does not independently substantiate all of those details.
Trump’s reported proposal to declare the Strait of Hormuz U.S. territory was part of the political confrontation over control of the waterway. His separate appeal for Americans to accept higher gasoline prices framed fuel costs as part of the price of restraining Iran and preventing it from obtaining a nuclear weapon.
But a presidential statement would not itself change the strait’s sovereignty or international legal status. Hatami’s response was therefore aimed at both the practical question of who could control shipping and the political claim that Washington could unilaterally appropriate the waterway.
The central issue remains unresolved: Iran says Hormuz is now a permanent strategic lever and will not return to its prewar status, while the United States has rejected a system that gives Tehran unrestricted control over commercial passage. Until those positions are reconciled, the strait remains simultaneously a shipping bottleneck, a source of energy-market risk and the main bargaining instrument in the wider U.S.-Iran conflict.