US Central Command has accused Iran of targeting commercial ships and launching missiles and drones toward Persian Gulf countries, marking a significant escalation in a waterway that handles roughly a third of the world’s seaborne oil trade.
Iran has reportedly begun demanding Bitcoin fees from vessels seeking passage approval through the strait, charging approximately $1 per barrel.
What’s happening in the strait
CENTCOM executed at least three waves of precision strikes targeting Iranian military infrastructure in early-to-mid July 2026. The targets included Iranian air defenses, missile sites, coastal radar systems, and Islamic Revolutionary Guard Corps small boats stationed at key ports like Bushehr and Bandar Abbas.
The strikes came in direct response to Iranian attacks on commercial vessels. Among the ships hit was the Cyprus-flagged container ship M/V GFS Galaxy, which sustained fire damage and had a crew member go missing. Iran also declared the Strait of Hormuz closed and launched retaliatory measures against US and allied positions in the region.
