Iran Establishes New Authority for Strait of Hormuz Amid Rising Tensions

May 18, 2026

67 min

May 18, 2026 12:31

Iran announces new body to manage Strait of Hormuz as Trump warns Tehran

## Iran's New Management Body

Iran has announced the creation of a new authority to oversee the Strait of Hormuz, a crucial maritime passage for global oil shipments. This move comes as tensions between Iran and the United States escalate, with President Donald Trump warning Iran to agree to a peace deal quickly.

## Regional Tensions and Drone Attacks

The situation in the Middle East remains volatile, with Saudi Arabia intercepting drones and the UAE reporting a drone strike near its Barakah Nuclear Power Plant. The attack caused a fire but did not compromise nuclear safety.

## Economic and Diplomatic Impacts

The ongoing conflict is affecting regional economies, with the UN's International Labour Organisation warning of potential job losses and wage declines. Meanwhile, Iran and the US continue indirect negotiations through Pakistan, seeking a resolution to the conflict.

## Global Reactions

The UAE and other regional allies have condemned the drone attacks, expressing solidarity with Saudi Arabia. Bahrain has heightened its military readiness, urging public caution against suspicious objects.

## Strait of Hormuz Developments

Iran's new Persian Gulf Strait Authority aims to manage the strait, which Iran has largely closed since the conflict began. The strait is vital for oil and gas shipments, and Iran has started charging tolls for passage. Talks with Oman are ongoing to ensure safe transit through the strait.

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