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Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos on June 21, 2026 in Muscat, Oman. Photo: Elke Scholiers/Getty Images
The U.S. military said it conducted airstrikes against Iranian military targets in the area of the Strait of Hormuz on Tuesday in retaliation for renewed Iranian attacks on commercial ships.
Why it matters: The exchange of fire risks plunging the U.S. and Iran into a new cycle of retaliation, threatening the fragile memorandum of understanding (MOU) signed less than three weeks ago.
