Iran, Oman unveil plan for Strait of Hormuz shipping lane as China criticizes Trump 'Economic D-Day'
Iran and Oman said Tuesday they are hopeful they can establish a jointly managed shipping lane through the Strait of Hormuz. Meanwhile, Chinese Foreign Ministry spokesperson Lin Jian warned that the U.S. plan to wage economic warfare on Tehran will "fuel tensions and lead to risk spillover," potentially disrupting the global financial order.
Iranian president says Tehran prefers dialogue, US will ‘gain nothing’ from economic pressure
Iranian President Masoud Pezeshkian said Tuesday that he hopes to continue peace talks with the United States, while also cautioning that economic pressure will not lead to concessions.
“Our approach is understanding and resolving issues through interaction and negotiation, but at the same time, we have stood and will continue to stand firmly against economic pressure,” Pezeshkian said, according to the Anadolu Agency.
Pezeshkian said the U.S. will "gain nothing" from an economic crackdown.
Pezeshkian made these comments at a central bank meeting, a day after the U.S. officially launched Operation Economic Outcast, a plan to isolate Iran economically and expand sanctions.
"Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Treasury Secretary Scott Bessent said Monday. "Those who stand with the United States will reap the rewards of our partnership. Those who tether themselves to Tehran should expect to share in the isolation of a withering regime.”
Strait of Hormuz is 'functioning' despite occasional drone strikes, Trump says
President Donald Trump said Wednesday that the Strait of Hormuz is "functioning" despite occasional attacks on tankers via rockets or drones.
"The strait, it's functioning. It's a functioning strait, yes. Every once in a while, there'll be a drone or a rocket or something shot. But it is a very functioning strait. A lot of oil is pouring out," he said on Glenn Beck's radio show.
Trump reiterated that all the mines have been removed from the waterway, adding that he believes the conflict with Iran will "will be ending fairly soon."
Trump says Iranians fear protesting regime because of rooftop snipers
President Donald Trump said on Glenn Beck's radio show that the Iranian people have not risen up against the Iranian regime out of fear they'll get shot by rooftop snipers if they go out into the street to protest.
"They have snipers at the tops of buildings, and people go out to protest and they get hit. And they don't have to hit many," Trump said. "When you see five or six or 10 people go down and you have 100,000 or 200,000 people, they leave. No, I don't care who you are, you leave."
"And it's very hard to protest when you have people that are willing to shoot you and kill you. And that's why they're not protesting," Trump added.
The president said there's a chance the situation on the ground could change, claiming that Iran's navy and air force are "totally gone." He also said many soldiers within the Islamic Revolutionary Guard Corps are not getting paid.
Trump says he doesn't believe Ayatollah Mojtaba Khamenei is dead but 'seriously wounded'
During a phone interview with Glenn Beck, President Donald Trump said Wednesday that he doesn't believe Ayatollah Mojtaba Khamenei is dead.
"I don't think he's dead. He was very seriously wounded. The left side of his body, the arm, the leg, the whole thing. He was very seriously wounded," Trump said.
Trump was responding to a recent Atlantic article titled "Is Mojtaba Khamenei Dead?", which pointed out that the new supreme leader has not been seen in public for months, even by his closest confidantes.
"I don't think he's dead. and if he is, they're putting on a pretty good show because they talk about going back to talk to him all the time to get a final blessing on things," Trump said.
Mojtaba Khamenei's father, Ali Khamenei, was killed in the initial strikes of Operation Epic Fury on Feb. 28, 2026.
Brent crude dips to $86 per barrel for first time in nearly two weeks amid Strait of Hormuz talks
Brent crude, the international oil benchmark, hovered around $86 per barrel Wednesday morning, a level not seen since Aug. 14.
West Texas Intermediate (WTI), the U.S. crude benchmark, similarly hit a nearly two-week low, dipping to approximately $80.
Falling oil prices come as Iran and Oman say they are close to reaching a deal on establishing a shipping route through the Strait of Hormuz, the vital chokepoint that carried roughly a fifth of the world’s daily oil supply before the Iran war began in late February.
"I am hopeful we will soon announce a temporary corridor for the Strait of Hormuz and practical arrangements to restore safe navigation," Omani Foreign Minister Badr Albusaidi posted on X after speaking with his Iranian counterpart.
In May, President Donald Trump expressed opposition to an arrangement where Iran and Oman would control a portion of the strait, calling it "international waters."
In August, Trump said he'd bomb Oman if it got in the way of U.S. negotiations with Iran.
US strike on Iran not expected 'for the time being' unless Tehran attacks first: report
Washington is not expected to launch further strikes against Iran for now unless Tehran attacks first, Axios reported Tuesday, citing U.S. officials.
Secretary of State Marco Rubio has recently told some foreign counterparts that the current posture would stay in place "for the time being," the outlet said.
One official, however, said Rubio did not rule out strikes if Iran attacks first.
A second official told Axios the posture is expected to remain in place until after the midterm elections, when another military campaign could again be considered.
Secretary of War Pete Hegseth said Monday he was not ruling out renewed U.S. strikes against Iran during the lull in hostilities, The Associated Press reported.
The developments came as the Trump administration ramped up economic pressure on Tehran, including through its blockade of Iranian ports and a new sanctions initiative announced this week by Treasury Secretary Scott Bessent.
The Associated Press contributed to this post.
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