Iran tightens Strait of Hormuz controls amid US maritime standoff; Trump administration faces calls to restore Russia oil sanctions

Iran has implemented a new system requiring ships to obtain permission before passing through the Strait of Hormuz, escalating tensions with the United States. The U.S. has announced ‘Project Freedom’ to escort ships through the waterway, while Democratic senators urged the Trump administration to reinstate sanctions on Russian oil exports. Concerns are rising about rising global energy prices and Russia’s increased ability to fund its war in Ukraine.