SummaryIran is pushing forward legislation formalizing control/management of Hormuz Strait shipping, which flies in the face of Trump warnings & conditions.An Iranian Fateh-110 short-range ballistic missile targeted Kuwait's Ali Al Salem Air Base, a key operational hub for the U.S. Air Force. BBG says missile intercepted, but falling debris struck part of the base, injuring five Americans.Two more American drones reported destroyed or damaged in the Kuwait base attack (DropSite/BBG).Iran says two big MOU agreement issues remain & are not finalized: Unfreezing of Assets & Sanctions, Nuclear FileUS-Iran nuclear deal by July 31?
Yes 55% · No 45%View full market & trade on Polymarket* * *Iran Moves to 'Legalize/Formalize' Management Of Hormuz StraitA Saturday message and warning from Iran’s Khatam al-Anbiya Central Headquarters via Al Jazeera: "The management of the Strait of Hormuz is exercised with full authority by the Armed Forces of the Islamic Republic of Iran." It added that "all ships, commercial vessels and tankers are only required to travel through the designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy."So despite President Trump's latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.State-run Nour News is reporting that a bill outlining Tehran's role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that "only Iran and Oman can decide on Strait of Hormuz management" - adding that "the Omani side has given preliminary approval" to Tehran's plan. He further emphasized the strategic importance of Hormuz, declaring that "the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs."Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund - all of which critics have dismissed as but Tehran's ruse to collect what is in effect a "toll". The legislation is expected to undergo review by Iran's Guardian Council, which is responsible for vetting and approving all laws before they take effect.More Reported US Drones DestroyedReports of more MQ-9 Reaper damage or destruction have emerged; however, the Pentagon has not verified this, and is not expected to. This along with the past week of 'live-fire' tit-for-tat incidents suggests an escalating situation, even as the warring sides try to get back to the peace negotiations table. It looks like it could be related to the Saturday missile attack on a US base in Kuwait, but details are murky. Per DropSite:2 more drones were reportedly downed in Iran on Friday. https://t.co/VocxypbfSC
