President Donald Trump announced “Project Freedom” on May 3, directing the US military to escort commercial ships, including oil tankers, through the Strait of Hormuz. The initiative is effective immediately and targets a chokepoint responsible for roughly 20% of global oil trade.
An estimated 100 million barrels of oil had been stranded due to earlier disruptions in the region, with daily tanker transits plummeting from around 130 to as few as 6 during the worst of the conflict in early 2026.
What happened and why it matters
The Strait of Hormuz is a narrow waterway between Iran and Oman. Virtually every barrel of oil exported from the Persian Gulf passes through it.
Trump noted that Iran had permitted 10 oil tankers through as a goodwill gesture back in March, a diplomatic breadcrumb that apparently preceded the broader reopening effort. Project Freedom formalizes the military’s role in ensuring that passage stays open.
