Iran plans restricted zone as Hormuz traffic drops to just 7 ships daily

Iran says talks with Oman on administering the Strait of Hormuz and establishing safe-transit arrangements have made significant progress and may soon be formalized, even as Tehran threatens tighter restrictions on shipping. Iran plans to announce an exclusion or restricted zone extending from the reported U.S. naval blockade into the Persian Gulf, warning that vessels entering without coordination could be sanctioned or targeted, while Washington disputes Iranian claims about attacks on U.S. vessels. The standoff follows mutual strikes involving Iranian oil tankers, U.S. warships and commercial shipping, sharply reducing traffic through the waterway and raising concerns about global energy supplies and higher fuel prices. The International Atomic Energy Agency says Iran has failed to provide adequate information on declared nuclear materials and has denied inspectors on-site verification access; Tehran rejects the criticism as politically motivated and threatens retaliation against renewed UN action. Iran is also seeking closer economic and strategic coordination with India at the BRICS summit, including on trade and the Chabahar Port project, underscoring competing diplomatic efforts and the risk of further regional escalation.