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A woman waves an Iranian flag in front of an anti-U.S. billboard referencing President Donald Trump and the Strait of Hormuz at Valiasr Square in Tehran on May 5, 2026—a scene captured by AFP.
Iran is currently deliberating its response to a recent U.S. proposal. Meanwhile, the United Arab Emirates reports that its air defenses intercepted Iranian missiles and drones. The U.S. has also announced sanctions targeting entities aiding Iran’s weapons manufacturing efforts.
Efforts to resolve the escalating tensions between the U.S. and Iran have hit a standstill. On Friday, both nations exchanged fire in the Gulf, with a U.S. intelligence report indicating Tehran could sustain a naval blockade for several months. A CIA analysis suggests that Iran won’t face significant economic impacts from a U.S. blockade of its ports for approximately four more months. However, a senior intelligence official dismissed these claims, asserting that the blockade is causing considerable damage—disrupting trade, reducing revenue, and pushing the economy toward collapse.
Recent days have seen some of the most intense clashes in the Strait of Hormuz since a ceasefire was established a month ago, with the UAE experiencing renewed attacks on Friday. The U.S. is waiting for Iran’s reply to a proposal aimed at officially ending the conflict before engaging in discussions about more sensitive issues, including Iran’s nuclear program. U.S. Secretary of State Marco Rubio, speaking earlier in Rome, said, “We expect to hear something from Iran today.” Tehran’s foreign ministry spokesperson stated that Iran was still considering its response, with no word reported by mid-afternoon in Washington or just before midnight in Tehran.
Meanwhile, smaller skirmishes continue in the Strait of Hormuz. Iran’s semi-official Fars News Agency reported that Iranian forces responded to U.S. vessels attempting to enter Iranian waters, with a U.S. fighter jet striking their smokestacks and forcing them to retreat. Since early March, Iran has largely halted non-Iranian shipping through the strait, escalating its actions following joint U.S.-Israeli airstrikes across Iran on February 28. Last month, the U.S. imposed a maritime blockade on Iranian ships.
Oil prices rose above $101 per barrel for Brent crude, although prices declined over 6% throughout the week. Despite the uptick in hostilities, President Trump claimed Thursday that the ceasefire held steady, despite recent flare-ups. The Strait of Hormuz previously accounted for about 20% of global oil supplies.
The conflict has expanded beyond the waterway. The UAE announced that its air defenses responded to two ballistic missiles and three drones launched from Iran on Friday, resulting in three moderate injuries. Iran has frequently targeted Gulf states hosting U.S. military bases, and the recent attacks are seen as a response to Trump’s initial “Project Freedom,” an effort to escort ships through the strait, which was paused after just 48 hours.
Iran has accused the U.S. of violating the truce, which has generally held since its announcement on April 7 but has recently been strained. Iran’s Foreign Minister Abbas Araqchi condemned what he called the reckless pursuit of conflict by the U.S. when diplomatic solutions were available. Iranian media cited casualties following a U.S. Navy attack on an Iranian commercial vessel, with one crew member reported dead, ten wounded, and four missing.
In response to U.S. efforts, Rubio, after a meeting with Italian Prime Minister Giorgia Meloni, questioned why Italy and other allies were not supporting Washington’s initiatives to reopen the strait. “Will you normalize a country claiming to control an international waterway? Because if you do, it sets a precedent that could be repeated elsewhere,” he warned.
Simultaneously, the U.S. has intensified sanctions against Iran. The Treasury Department announced on Friday that it sanctioned ten individuals and companies, including several based in China and Hong Kong, for assisting Iran’s military in acquiring weapons and materials used in drone manufacturing. The U.S. aims to prevent Iran from rebuilding its military industrial capabilities and projecting power internationally. The sanctions also target foreign companies that support Iran’s illicit trade, with potential secondary sanctions on international financial institutions, including those involved with China’s independent “teapot” oil refineries.
This diplomatic and economic pressure comes ahead of a planned U.S. visit to China for talks with President Xi Jinping, highlighting the broader geopolitical stakes in the ongoing tensions.
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