Iran’s foreign minister outlined a comprehensive rebuttal to the US proposal, refusing on-site nuclear inspections and insisting that all US military forces exit the strategic Strait of Hormuz area. The reply emphasized Tehran’s conditions for halting further escalation, including lifting of sanctions tied to regional security operations.

Since the beginning of May, Houthi militants have conducted seven attacks on tankers transiting the corridor, marking a 45% spike compared with April. Insurance underwriters have reacted by raising premiums for Persian Gulf shipping routes by nearly 20%, reflecting heightened risk perceptions and potential cost pass-through to global oil markets.