Iran is tightening the noose around the Strait of Hormuz, undercutting Donald Trump’s claim of a successful “siege” and turning the waterway back into a pressure point against Washington and its allies. Tehran has reimposed strict military control over transit, warning that any continued blockade of its ports will be met with restrictions on global shipping through one of the world’s most critical energy chokepoints. Iranian officials have blasted Trump’s move as a “foolish and ignorant decision,” arguing that U.S. pressure has failed to break Iran’s leverage and has instead fuelled instability in global oil and commodity markets. With reports of attacks or warning fire near commercial vessels and rising insurance and freight costs, the Hormuz standoff is once again rippling through the global economy. At the same time, both sides are ramping up their media messaging—Trump talking up toughness, Iran showcasing missiles and drones—while diplomats quietly warn that miscalculation could push the region back toward open conflict. As ceasefire timelines and negotiation windows narrow, the question now is whether Hormuz becomes the trigger for the next escalation—or the leverage that forces a deal.