It comes days after President Donald Trump postponed a planned attack on the country amid negotiations to end the war.

Iran's new Hormuz authority claims oversight of UAE and Oman ports while launching Bitcoin-denominated shipping tolls, drawing a sharp rebuke from the UAE.

Iran's new body overseeing the Strait of Hormuz said its claimed area of control extends to Emirati waters, drawing a sharp rebuke from the Gulf neighbour. Traffic through Hormuz, a vital global shipping conduit,

The vital passageway is key for Tehran as it seeks to leverage in negotiations with Washington.

Iran has dug in on its redlines for negotiations with the US and Israel, announcing it is expanding its control over the Strait of Hormuz into the coastal waters of foreign territories as Mojtaba Khamenei insists the country’s enriched uranium will not be removed.

Iran's weaponisation of the Strait of Hormuz - squeezing energy flows and simultaneously threatening subsea cables - has re-introduced the world to structural leverage warfare and marked it as the future of conflict.

The IRGC claims to maintain control over the Strait of Hormuz despite the US blockade on Iran’s ports.

The UAE has redirected some oil exports through an existing pipeline to Fujairah, which has a maximum capacity of 1.8 million barrels per day.