President Trump says the US Navy has cleared every mine from the Strait of Hormuz and warned Iran against laying more, but shipping data show traffic through the chokepoint still down more than 90% from pre-war levels. Separately, the UAE has halted all trade with Iran after a missile incident in the Persian Gulf, adding a second flashpoint to the region's tensions.
President Donald Trump says the U.S. Navy has cleared every mine from the Strait of Hormuz and has warned Iran that any new mines placed in the waterway will be destroyed. The declaration caps months of military confrontation over the narrow passage that carries roughly one-fifth of the world's oil supply.
Claim collides with shipping data
The mine-clearance operation began in April, targeting devices laid by Iran's Islamic Revolutionary Guard Corps navy. The standoff traces back to late February 2026, when Iran began deploying small craft capable of carrying two to three mines each into the strait. U.S. forces destroyed 10 to 16 Iranian minelaying vessels after Trump's March 10 demand that Iran remove the mines. The Navy then sent minesweepers against an estimated 6,000 naval mines intelligence officials believed Iran had planted.
But the numbers on the water tell a different story than Trump's claim that the strait is open and operating. On a recent Monday, only around 10 vessels transited the strait, against a pre-war average of 130 to 140 a day — a decline of more than 90%. Prediction markets still moved on the news: the odds of zero ships transiting Hormuz fell from 23% to 15.4% YES over 24 hours after Trump's announcement.
UAE halts trade with Iran
The Gulf crisis widened further after the United Arab Emirates halted all trade with Iran, following reports that Tehran fired ballistic missiles toward UAE territorial waters — an accusation Iran denies. The suspension is indefinite and extends the conflict into vital maritime routes, raising fresh concerns about shipping security in the Gulf.
No talks on the horizon
Diplomatic efforts have gone nowhere. Trump has denied that any talks with Iran are scheduled, while Iran has set preconditions that include lifting sanctions and releasing frozen assets before it will discuss restoring normal shipping. Japan, South Korea, India, and China all receive significant portions of their crude oil through the strait.
Sources: Crypto Briefing, Crypto Briefing, Crypto Briefing
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