Iran Establishes New Agency for Strait of Hormuz Amid US Peace Talks

May 8, 2026

66 min

May 8, 2026 02:30

US-Iran talks: Iran creates new agency to control shipping in Strait of Hormuz while reviewing peace deal with US

## Rising Tensions in the Strait of Hormuz

Iran has set up a new government agency to oversee and tax vessels passing through the Strait of Hormuz, a critical global shipping route. This move comes as Iran reviews a 14-point US proposal aimed at ending ongoing hostilities.

## US-Iran Negotiations

The US and Iran are reportedly making progress towards a preliminary agreement to halt the conflict and initiate broader nuclear discussions. The proposed framework includes a ceasefire and potential sanctions relief.

## Regional and Global Reactions

The situation remains tense following a US military strike on an Iranian oil tanker in the Gulf of Oman. President Trump has warned Iran to accept the peace deal or face renewed military action. Meanwhile, China has urged for the reopening of the Strait to ensure global shipping stability.

## Impact on Global Trade

The blockade of the Strait of Hormuz has significantly affected international shipping, with hundreds of vessels unable to pass. The US and its Gulf allies are pressing the UN to demand Iran lift the blockade, but face potential opposition from Russia.

## Recent Developments

In related incidents, explosions were reported near Qeshm Island and Bandar Abbas, with Iran claiming to have engaged several drones. The US Treasury has imposed new sanctions on Iran-linked oil networks accused of funding regional militias.

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