Before chancing the treacherous waters of the Strait of Hormuz, the all-Filipino crew of 23 had been stranded at anchor for more than a month in the Persian Gulf as the U.S. and Israel waged war against Iran.

Tensions are escalating again near the Strait of Hormuz after a ship anchored off the United Arab Emirates was seized and taken toward Iran and another was attacked and sank near the coast of Oman.

The UAE has strongly condemned Iran's 'unlawful' attacks in the Gulf region and its control over the Strait of Hormuz, stating that Tehran's actions disrupt global oil supplies and risk a worldwide economic crisis.

The Strait of Hormuz crisis is reshaping global oil flows in ways that would have seemed unusual just months ago. One of the clearest examples is that the US is now shipping crude to Australia, a market that typically relies far more heavily on Asia and the Middle East for supply.

Iran has a plan to use bitcoin as payment for insuring ships looking to transit the Strait of Hormuz as the war heads toward the end of its third month.

The platform settles cargo cover in Bitcoin under a plan for marine policies and certificates that could generate $10 billion for Iran.

India, May 19 -- US-Israel-Iran War Latest Update: The Middle East conflict has entered another volatile phase as Israeli military operations expand in southern Lebanon while Iran strengthens its strategic leverage over the Strait of Hormuz.

Iran has largely restricted shipping through the strategic waterway since the outbreak of war with the United States and Israel on 28 February, 2026. Although a fragile ceasefire has been in place since 8 April,

Emboldened by its blockade of the Strait of Hormuz, Iran is turning to one of the hidden arteries in the global economy: subsea cables beneath that carry vast internet and financial traffic between Europe,

Iran’s grip on the Strait of Hormuz has jolted the world economy. It has also left tens of thousands of mariners and hundreds of ships stranded in the Persian Gulf.

The following is the May 4, 2026, Congressional Research Service report The Strait of Hormuz in Brief: Non-Oil Shipments and Effects on U.S. Shippers. From the Report Before U.S. and Israeli military operations began against Iran on February 28,

US-Iran war LIVE Updates: A senior official of United States said, “We are at a very serious place today. The pressure is on them to be responsive in the right way. If that's not gonna happen, we will have a conversation through bombs,