Updated

US President Donald Trump said on Monday, 10 August 2026, that the United States Navy is the only force controlling the Strait of Hormuz and that the US had "mine-swept the entire strait," declaring the vital oil waterway open. In the same Oval Office remarks he said he would seek compensation from Iran for the deaths of US soldiers as part of any peace negotiations, a tit-for-tat response after Tehran demanded reparations for damage inflicted during what he described as the five-month military conflict as a condition for reopening the strait. Iran, meanwhile, said an agreement with Oman on arrangements for the Strait of Hormuz was in its final stages, though neither Washington nor Muscat commented on the proposed deal. Tehran also indicated that Hormuz talks were "progressing smoothly" and said it was prepared for Trump's negotiating "chess" games. The standoff over the strait, through which a large share of global oil shipments passes, keeps energy markets and regional shipping exposed while the two sides trade escalating demands rather than converging on terms.