Overview
- Iran’s Supreme Leader Mojtaba Khamenei published a written call on Sunday for Muslim and Gulf states to “identify your real enemy” and strengthen unity, and he has not appeared in public since being wounded in February strikes.
- President Masoud Pezeshkian said Iran’s imports and exports have fallen about 25 to 35 percent and inflation has surged, which officials link directly to US sanctions and a naval blockade.
- Tehran says the Strait of Hormuz remains closed to uncontrolled traffic and deputy foreign minister Kazem Gharibabadi reported an understanding with Oman for a conditional temporary corridor that depends on other parties meeting their commitments.
- The United States has intensified financial pressure under Treasury chief Scott Bessent, expanding secondary sanctions and pursuing actions aimed at banks and entities that facilitate Iran’s trade and oil revenue.
- Regional mediators led by Qatar, Oman and Pakistan continue talks but the conflict has entered a costly stalemate that is disrupting tanker transits, squeezing ordinary Iranians through fuel shortages and price shocks, and keeping energy markets on edge.