Iran rejects Trump’s claim to make Strait of Hormuz U.S. territory

Iran’s deputy foreign minister Kazem Gharibabadi posted on X that the Strait of Hormuz, which handled about one-fifth of global oil before the conflict, cannot be seized by a tweet, an aircraft carrier, an order or a speech. He added that the waterway will be opened or closed only at Iran’s command and that Tehran will keep enforcing its blockade until the United States “accepts the reality of defeat.”

President Donald Trump, speaking at a police academy in New York, said Iran was being “very badly defeated” and that, once victory was secured, he would declare the strait a U.S. territory. He urged Americans to tolerate slightly higher gasoline prices to prevent Iran from acquiring a nuclear weapon.

The 60-day negotiating period established in a June memorandum of understanding between the United States and Iran ends on Monday, with little direct dialogue reported. Iran’s foreign minister Abbas Araghchi told Iran’s Shahrara News that no negotiations are currently taking place, although Qatar and Pakistan are exchanging messages with Tehran.

Oil markets have steadied since the war began, but prices remain above pre-war levels, with crude futures up $1 per barrel and Brent futures on track for a weekly rise of about 6 %. Ship traffic through the strait remains minimal; only two vessels were recorded on Friday and no crude shipments were observed, according to ship-tracking firm Kpler. A bulk carrier was hit by an unknown projectile in the strait, but the crew was reported safe.

Vice President JD Vance, leading U.S. negotiations, said the primary goal is to keep oil and gas affordable for Americans, with a secondary aim of preventing Iran from obtaining a nuclear weapon. Tehran maintains it does not seek nuclear weapons.