US–Iran War
Assessment
One hundred days after the US and Israel opened the war with ~900 strikes that killed Supreme Leader Ali Khamenei (28 Feb), the conflict has frozen into an attritional stalemate. An April ceasefire and a brief reopening of the Strait of Hormuz collapsed; by June it is a dual blockade — the US Navy holding 70+ tankers off Iran's ports (109 vessels redirected) against Iran's closed strait, where daily traffic has fallen ~95% from ~100 ships to ~6. More than 1,850 Iranian ballistic missiles have been fired; fire is exchanged every few days, Pakistan-mediated talks are deadlocked over the enriched-uranium stockpile and $24B in frozen assets, and Lebanon — where Israel strikes Beirut's southern suburbs — is now the most active front. The energy fallout (jet fuel +84%, oil to $126/bbl at the peak) is the war's main global transmission channel.
Theatre
Events
- 1 7 Jun 2026 pivotal War reaches 100 days; Israel strikes Beirut as Lebanon becomes the active frontBeirut
The US–Iran war reached its 100th day on 7 June 2026 as a frozen stalemate, with the US shooting down two Iranian drones over the Strait of Hormuz and Iran firing missiles at Bahrain and Kuwait. The same day Israel struck two apartment buildings in Hezbollah's Beirut southern-suburb stronghold, killing at least two civilians plus three Lebanese soldiers and two women in a separate strike; Netanyahu called the targets 'terrorist headquarters' in response to Hezbollah fire. Iran's chief negotiator declared US bases and assets in the region 'legitimate targets' and warned talks could collapse, while Hezbollah rejected a new conditional truce. On the diplomatic track Pakistan's interior minister Mohsin Naqvi delivered a letter from Pakistan's army chief to Iran's supreme leader, but military adviser Mohsen Rezaei called negotiations deadlocked and demanded release of $24 billion in frozen Iranian assets.
MilitaryThe center of gravity has shifted to Lebanon while the Iran front freezes — Israel's strikes on Beirut's southern suburbs and Hezbollah's rejection of a conditional truce make a direct Iranian entry the likeliest path back to open escalation.DiplomaticThe negotiation is deadlocked on money: Rezaei's demand to unfreeze $24B collides with a US Treasury plan to instead use those funds to compensate Gulf allies for Iranian damage, so the same assets are claimed by both sides as a war reparation.EconomicThe 100-day mark crystallised the toll — jet fuel +84%, a ~$100B hit to airlines, and ~$750 added per US household — turning the war into a measurable inflation tax channelled through the closed strait. - 2 5 Jun 2026 Iran claims warning shots at US warships in the Gulf of OmanGulf of Oman
On 5 June 2026 Iran's Navy claimed it fired Qadir missiles and Shahed Danesh offensive drones as 'warning shots' toward US destroyers DDG-103 and DDG-87 in the Sea of Oman, asserting both vessels withdrew toward the Indian Ocean. US Central Command flatly denied it, saying Iranian forces did not attack or fire at any US warship and that US forces continue to operate freely while enforcing the blockade against Iran. The exchange followed US Indo-Pacific Command's confirmed maritime interdiction and boarding of the stateless vessel MT DAVINA in the Indian Ocean. Iran accused US forces of harassment and 'maritime theft' and warned it could use longer-range weapons if necessary.
InformationWith CENTCOM flatly denying any incident, the unverified claim is itself the move — Tehran signals it can already contest the Hormuz approaches, naming DDG-103 and DDG-87 to make the boast specific enough to shape perception.Naval geographyThe Gulf of Oman is the seaward side of Hormuz where US destroyers stage; claiming to have pushed two named DDGs toward the Indian Ocean asserts Iran can threaten the approaches and the blockade line, not just the chokepoint.Escalation controlFraming it as 'warning shots' rather than an attack — and tying it to the MT DAVINA boarding it calls 'maritime theft' — lets Iran probe US resolve while preserving deniability and a grievance to justify any future strike. - 3 3 Jun 2026 IRGC claims missile strikes on Bahrain and Kuwait, killing one and injuring 63Bahrain
On 3 June 2026 Iran's Islamic Revolutionary Guard Corps claimed responsibility for missile and drone attacks on Bahrain and Kuwait that killed one person and injured 63 others. The strikes followed a weekend in which US forces hit Iranian radar and drone command sites in self-defense after Iran downed a US MQ-1 drone, and Iran retaliated by firing ballistic missiles at a US airbase in Kuwait that were intercepted; the US also struck Iran's Qeshm Island. UN Secretary-General António Guterres said he was 'alarmed' by the overnight US–Iran exchange and 'deeply troubled' by civilian casualties, condemning attacks on civilian infrastructure and backing Pakistan-led mediation. The escalation occurred amid the fragile ceasefire, with Trump claiming the same day that Iran had agreed not to build a nuclear weapon and that Mojtaba Khamenei was involved in the talks.
MilitaryBahrain hosts the US Fifth Fleet headquarters; putting the central Gulf naval command node in range — and pairing it with the Qeshm Island strike on Iran's side — signalled Iran could hit the coalition's rear before the 5 June airport spillover.Coalition strainKilling one and injuring 63 on Bahraini and Kuwaiti soil forces those host governments to choose between sheltering the US war and protecting their own citizens, pressuring the basing access the blockade depends on.DiplomaticTrump's simultaneous claim that Khamenei is engaging and has renounced a nuclear weapon, against Guterres' alarm at civilian deaths, shows the negotiating channel and the shooting war running in parallel rather than one suspending the other. - 4 30 May 2026 pivotal April truce collapses; the war re-freezes into a dual blockadeStrait of Hormuz
By late May the April ceasefire had frayed and broken down: Iran re-closed the Strait of Hormuz and the US held its naval blockade of Iranian ports, returning the war to a frozen, attritional standoff. On 1 June Iran formally suspended the US-mediated talks until Israel halted operations in Lebanon and Gaza, with the IRGC threatening to open 'new fronts,' keep Hormuz closed and 'activate' the Bab el-Mandeb; oil jumped more than 5% and equities slid. FM Abbas Araghchi declared that 'violation on one front is a violation of the ceasefire on all fronts,' linking the strait, Lebanon and the wider war into a single tripwire. US forces intercepted two Iranian ballistic missiles aimed at American troops in Kuwait with no casualties as the standoff hardened.
DiplomaticIran's formal suspension of talks 'until Israel halts Lebanon and Gaza' exposed the truce as transactional — without a nuclear/sanctions framework, reopening Hormuz was hostage to a Lebanon front Washington could not switch off.MilitaryAraghchi's 'one front equals all fronts' doctrine, plus IRGC threats to activate the Bab el-Mandeb, fused three theaters into one tripwire, so any Israeli strike on Beirut now automatically re-arms the Hormuz closure.EnergyRe-closure reversed April's 11% relief and locked in the shock — the 5%+ oil jump on the talks suspension removed the off-ramp markets had priced after the 17 April reopening. - 5 30 May 2026 Iran hits Ali Al Salem Air Base in Kuwait with a Fateh-110; missile tally passes 1,850Ali Al Salem Air Base, Kuwait
On Saturday 30 May 2026 Iran fired a Fateh-110 ballistic missile at Ali Al Salem Air Base in Kuwait; Kuwaiti air defenses intercepted it, but falling debris wounded five US personnel and contractors, destroyed one MQ-9 Reaper drone and severely damaged a second — an estimated $60 million in losses. The strike landed just 24 hours after Trump unveiled a US-brokered framework to extend the regional ceasefire by 60 days, throwing the deal into doubt as commanders weighed retaliation. It raised to more than 1,850 the number of Iranian ballistic missiles fired since the war began on 28 February. Soar Atlas satellite imagery later showed a destroyed shelter, charred ground and multiple impact craters, contradicting CENTCOM's claim that all missiles were 'defeated'; Kuwait reported one death (an Indian national) and 60 injuries at the international airport, which Iran blamed on a stray US Patriot interceptor.
MilitaryCrossing 1,850 ballistic missiles fired and destroying MQ-9 Reapers at Ali Al Salem shows Iran's stockpile remains deep after 90+ days of US strikes — consistent with US intelligence that Iran retains most of its missile capacity, and FM Araghchi's boast of 120% of pre-war capability.DiplomaticHitting a US base 24 hours after Trump announced a 60-day ceasefire extension torpedoed the framework on arrival, demonstrating Iran sequences kinetic action to deny the US any clean diplomatic win.InformationSoar Atlas commercial imagery of craters and a wrecked shelter directly contradicted CENTCOM's 'all missiles defeated' line, letting Iran's version (real damage, a deliberate hit) outrun the Pentagon's, with Iran simultaneously blaming a US Patriot for the airport death. - 27 May 2026 Hormuz traffic down ~95%; US passes 109 vessels redirectedStrait of Hormuz
Average daily traffic through the Strait of Hormuz had fallen roughly 95% since the war began on 28 February — from about 100 vessels a day to around six — according to figures from the IMF's PortWatch tracker; only 532 ships (220 of them tankers, a quarter on 28 February alone) transited between 28 February and 17 May, with 218 passing since the US blockade started. On 27 May Iran's IRGC navy reported 23 ships had crossed the strait with its permission in the prior 24 hours, while US CENTCOM said it had redirected 109 commercial vessels in the Arabian Sea to enforce Trump's blockade since 13 April. The dueling counts — IRGC tallying the trickle it 'permits,' CENTCOM tallying what it turns away — measured the chokepoint from both ends of the dual blockade.
EnergyA ~95% traffic collapse, from ~100 to ~6 ships a day, is the single quantified fact behind the global shock — choking roughly a fifth of seaborne oil and feeding directly into US inflation and Fed rate expectations.InformationThe competing scoreboards — IRGC's 23 'permitted' crossings vs. CENTCOM's 109 'redirected' vessels — are a deliberate signalling contest, each side publishing the number that frames it as the party controlling the strait.Economic warfarePortWatch showing 218 ships transiting after 13 April versus the trickle Iran permits proves the dual blockade is mutual strangulation: neither the US interdiction nor Iran's toll regime has restored flow, only redistributed who bears the loss. - 23 May 2026 Trump says a Hormuz-reopening deal is 'largely negotiated'US–Iran talks (Pakistan-mediated)
On 24 May Trump said an agreement between the US, Iran 'and the various other countries' to end the two-month war had been 'largely negotiated, subject to finalization,' citing a 'very good call' with regional leaders and a separate call with Netanyahu. The New York Times, citing three senior Iranian officials, reported Tehran had agreed to a draft plan to end fighting and reopen the Strait of Hormuz. The optimism followed Trump's 19 May decision to postpone planned strikes as Gulf leaders said a deal was close, and his tense 20 May call with Netanyahu over a Qatar- and Pakistan-drafted peace memo. Within days Iran publicly contradicted Trump, saying the draft did not match his remarks, and by 30 May the framework had collapsed.
DiplomaticThe 'largely negotiated' framing exposed the gap between a navigation deal and the nuclear core — Iran wanted hostilities to end before nuclear talks, the US the reverse — and Tehran's public rebuttal that the draft 'contradicts his remarks' showed no shared text existed.AlliancePairing the announcement with a 'tense' Netanyahu call over a Qatar/Pakistan-drafted memo revealed the deal's second fault line: Israel feared de-escalation would be prioritised over its core demands, embedding a veto Trump did not control.Market signalPre-announcing a Hormuz reopening moved oil before any ink dried, so the optimism itself became a tool — and a liability when the gap between rhetoric and the unresolved uranium stockpile collapsed the framework a week later. - 21 May 2026 Congressional report: 42 US aircraft lost or damaged, war cost ~$29 billionUnited States (Congressional Research Service)
A 13 May Congressional Research Service report found that at least 42 US military aircraft — fighter jets, helicopters and drones — had been lost or damaged since the war began on 28 February, with repair and replacement costs pushing the total US war cost to about $29 billion. The disclosure landed during a stalemate in which a tenuous ceasefire had held since April but no peace deal was in sight. It followed Air Force testimony that supplemental funding was needed to replace aircraft lost in the war and warnings that the campaign had drained US precision-munition and interceptor stocks. In a rare incident the same period, one US pilot was reported shot down twice over Iran.
Force structureLosing 42 aircraft and burning through interceptor stocks converts a finite air war into a lasting readiness problem — the same depletion that prompted US warnings to European allies of arms-shipment delays and fears for Patriot stocks elsewhere.PoliticalA CRS report attaching a hard $29B figure and a 42-aircraft tally to the war handed Congress concrete ammunition, feeding the symbolic House resolution to halt US military action that passed in early June.DoctrineThat the opening 900-strike decapitation cost 42 aircraft yet failed to force Iran to quit reprises the core lesson of air power — strikes destroy targets but cannot by themselves make a state capitulate, the template for the stalemate. - 8 May 2026 Iran stands up a Hormuz toll agency; US blocks 70+ tankers worth ~$13BBandar Abbas
On 8 May 2026 Iran created a state agency to demand fees and registration from ships transiting the Strait of Hormuz, emailing shipping companies for cargo weight, value, crew nationality and route, and declaring that vessels from countries that 'caused war damage' must pay reparations. The same day US CENTCOM announced it was preventing more than 70 tankers — carrying over 166 million barrels of Iranian oil worth an estimated $13 billion or more — from entering or leaving Iranian ports. The dueling measures came amid fresh exchanges of fire, including a US strike on two Iranian oil tankers and Iranian attacks on three US destroyers. It turned the strait from a simple closure into a contested rent-versus-embargo regime running in both directions.
Economic warfareIran's toll agency monetizes the chokepoint as rent while CENTCOM's blocking of 70+ tankers (166M barrels, ~$13B) aims to zero out Iran's export revenue — a direct contest over who can outlast the other's economic pain.Legal statusIran demanding 'war-damage reparations' from transiting ships and the US holding tankers off Iranian ports are competing extraterritorial claims over the same water, raising the risk of incidents with third-country tankers and their escorting navies.CoalitionRequiring crew nationality and cargo data lets Iran price discrimination by flag — punishing states it deems belligerent — which pressures Gulf and European shippers to distance themselves from the US war to keep their vessels moving. - 6 May 2026 Iran strikes CMA CGM container ship in Hormuz; US suspends its escortStrait of Hormuz
On the evening of 6 May 2026 Iran struck the CMA CGM container ship San Antonio in the Strait of Hormuz, setting its engine room ablaze and injuring crew despite a US Navy escort under Project Freedom. President Trump paused the escort mission 'for a short time,' citing 'great progress' toward a deal. Joint Chiefs Chairman Gen. Dan Caine reported that Iran had hit US forces more than ten times and commercial ships nine times since the April ceasefire. The attack on an escorted French-operated vessel showed the truce existed only on paper at sea.
MilitaryHitting an escorted ship is the sharpest possible message: Gen. Caine's tally of 10+ strikes on US forces and 9 on commercial ships since the April ceasefire shows Iran kept attacking through the truce, and the San Antonio proved a US escort could not guarantee passage.DiplomaticTrump pausing Project Freedom 'for a short time' citing 'great progress' subordinated freedom-of-navigation to the negotiation, signalling Iran that attacks buy diplomatic deference rather than escalation.CoalitionBurning a French-operated CMA CGM hull drags Paris's shipping interest directly into the war, the kind of third-country exposure that pushed France to preposition the carrier Charles de Gaulle and convene multinational Hormuz talks. - 5 May 2026 Operation Epic Fury's main combat phase concludesIran
After more than nine weeks, the US–Israeli air campaign Operation Epic Fury wound down its main combat phase, with the war shifting from a strike campaign to blockade-and-attrition. The campaign had decapitated Iran's leadership but failed to force capitulation or regime collapse, and by its end US intelligence assessed Iran retained most of its missile capabilities. Air Force testimony warned that supplemental funding was needed to replace aircraft lost in the war, foreshadowing the later $29B / 42-aircraft tally. The transition locked the conflict into the dual-blockade stalemate that would define its second and third months.
MilitaryThe strike phase ending without regime collapse or Iranian capitulation set the template for the stalemate — air supremacy could not convert into a political outcome, and US intelligence judged Iran's missile force largely intact.DoctrineA nine-week campaign that decapitated the leadership yet failed to break Iran's will reprises the core lesson of air power: strikes can destroy targets but cannot, by themselves, force a state to quit.Munitions costSustaining the campaign drained the precision-munition and interceptor stocks now constraining US posture elsewhere, with the Air Force already requesting supplemental funds to replace lost aircraft — a finite air war becoming a lasting force-structure problem. - 30 Apr 2026 US launches 'Maritime Freedom Construct' as Khamenei vows to control HormuzStrait of Hormuz
On 30 April 2026 the United States announced the 'Maritime Freedom Construct' (MFC), a joint State Department–CENTCOM coalition to restore shipping through the Strait of Hormuz, which Iran had effectively closed since 28 February; the initiative aimed to ensure safe passage, share real-time information and coordinate transit, building on UK- and France-led talks with over 50 countries. The same day, on Persian Gulf National Day, Supreme Leader Mojtaba Khamenei issued a defiant statement asserting Iran's control over Hormuz shipping and vowing to protect its nuclear and missile programs, signalling a coming toll regime. Brent crude reached $126 a barrel — its highest since 2022 — as the US counter-blockade of Iranian oil ports continued and Khamenei declared the US defeated. Trump warned the naval blockade could last months.
MilitaryThe MFC formalized the US theory of victory as multinational convoy escort rather than strikes, but standing up a State–CENTCOM coalition is an admission that unilateral force could not reopen Hormuz after two months.LeverageKhamenei choosing Persian Gulf National Day to claim control of Hormuz and preview tolls fixed the strait as Iran's central bargaining chip, the same lever it would later monetize through the 8 May toll agency.EnergyBrent at $126 — the highest since 2022 — quantified the war-risk premium the closure had loaded onto oil, the baseline against which April's later 11% relief and the re-closure would be measured. - 17 Apr 2026 pivotal Iran reopens the Strait of Hormuz; oil falls 11%Strait of Hormuz
On 17 April 2026 Iran's foreign minister Abbas Araghchi announced the Strait of Hormuz was open to all shipping 'for the duration of the Lebanon ceasefire,' and oil prices fell roughly 11% on the news. The reopening came days after the US Navy began its blockade of Iranian ports on 13 April, briefly easing the worst of the energy shock. By explicitly tying passage to a single, contingent ceasefire, Iran framed the strait as a tap it could turn on and off as a function of battlefield concessions. The relief proved fragile: when Lebanon reignited the truce collapsed and the strait re-closed by late May.
EnergyAn 11% one-day drop measured exactly how much war-risk premium the closure had added — relief from the $126 peak — and how fragile it was, tied to a Lebanon ceasefire that would not last.LeverageReopening 'for the duration of the Lebanon ceasefire' made the strait an explicit bargaining chip — Iran demonstrated it could turn the world's oil tap on and off as a function of battlefield concessions.FragilityPricing the relief to one contingent ceasefire meant the market rebuilt the risk premium the moment Lebanon reignited, showing the de-escalation had no durable foundation and previewing the late-May re-closure. - 13 Apr 2026 pivotal Islamabad talks fail; US Navy blockades Iranian ports — a 'dual blockade'Bandar Abbas
After the Islamabad talks failed, the US Navy began blockading Iranian ports on 13 April 2026, producing what observers called a 'dual blockade' — the US blockading Iran's oil exports while Iran blockaded the Gulf and charged tolls of more than $1M per ship. More than 20 US warships maintained the cordon, redirecting commercial vessels and disabling tankers. The two interdiction regimes, layered atop Iran's closed strait, turned the war from a strike campaign into a maritime and economic siege. The failure at Islamabad over sequencing the nuclear and navigation files set the pattern for every later round of stalled Pakistan-mediated talks.
MilitaryThe dual blockade turned the war economic and maritime: each side throttling the other's lifeline — the US, with 20+ warships, choking Iran's oil exports, and Iran choking the Gulf's transit through the closed strait.Economic warfareIran's >$1M-per-ship toll converted the strait from a closure into a rent while the US blockade aimed to zero out export revenue — a contest over who can outlast the other's pain, later quantified by 70+ tankers and 109 vessels redirected.Legal statusA US naval blockade of Iranian ports is, in international law, an act of war and a contested interdiction regime, raising the risk of incidents with third-country tankers and the navies escorting them. - 8 Apr 2026 US and Iran agree an April ceasefire after five weeks of warUS–Iran ceasefire
After more than five weeks of fighting, the US and Iran agreed a ceasefire on 7–8 April 2026 that also covered Israel and was meant to reopen the Strait of Hormuz. The truce sequenced the easy item — navigation — ahead of the hard one: a nuclear and sanctions framework. It frayed almost immediately, with the Islamabad talks failing and the US beginning its port blockade on 13 April. Folding Israel into a US–Iran deal tied the truce's survival to a third party pursuing its own Lebanon agenda.
DiplomaticReaching any ceasefire in five weeks showed both sides wanted off the escalation ladder — but pinning it to Hormuz reopening rather than the nuclear file left it without a foundation, and the Islamabad talks collapsed within days.Design flawSequencing navigation ahead of the nuclear and sanctions framework built the truce on its weakest joint, so the first dispute over the unresolved core — the enriched-uranium stockpile — collapsed the whole thing.ScopeFolding Israel into a US–Iran ceasefire tied its durability to a third party with its own Lebanon agenda, embedding a second collapse trigger the US could not directly control — the one that detonated in late May. - 15 Mar 2026 pivotal Strait of Hormuz crisis: traffic collapses as the IRGC mines the straitStrait of Hormuz
From mid-March 2026 commercial traffic through the Strait of Hormuz fell more than 90% as the IRGC forbade passage, boarded and attacked merchant ships, and laid sea mines, triggering fuel shortages across Asia. Roughly a fifth of the world's seaborne oil moves through the chokepoint, so the closure transmitted the bilateral war straight into global energy markets and US inflation. The mining-and-boarding method imposed outsized costs on the US Navy, which had to clear and escort rather than simply strike. The crisis established Hormuz as Iran's central lever and the war's main global transmission channel.
EnergyA >90% collapse in Hormuz traffic is the fact that globalised the war — roughly a fifth of seaborne oil, with the shock feeding straight into US inflation and Fed rate expectations and later deepening to a ~95% collapse.Military methodMining the strait and boarding merchant ships is asymmetric warfare: cheap sea mines and small boats impose outsized costs on the US Navy, which must clear and escort rather than simply strike, blunting US air supremacy.Global reachFuel shortages cascading across Asia turned a bilateral war into a worldwide supply event, drawing in energy-importing powers and converting Hormuz into Iran's lever over the entire global economy. - 3 Mar 2026 War widens: Hezbollah opens the Lebanon front; conflict touches nine countriesLebanon
In early March 2026 Hezbollah launched rockets into Israel, prompting an IDF ground move into Lebanon; the US sank Iranian naval vessels; and the conflict spread across some nine countries. Iran installed Mojtaba Khamenei as the new Supreme Leader within days of his father's death, signalling the regime had survived decapitation intact enough to keep fighting. The Lebanon front opened here would, by June, become the war's most active theater. The rapid widening foreclosed the swift collapse the opening strike had sought.
MilitaryWithin days the war jumped from a US/Israel-vs-Iran strike campaign to a regional war on multiple fronts — the Lebanon front opened here would become the most active by June, with Israel striking Beirut's suburbs.PoliticalInstalling Mojtaba Khamenei so fast signalled the regime survived decapitation intact enough to keep fighting — foreclosing the collapse the opening strike sought, a continuity Rubio later confirmed when he told the Senate Khamenei was alive and 'increasingly engaging.'NavalThe US sinking Iranian naval vessels in the same window opened the maritime dimension that would harden into the April dual blockade, moving the fight onto the water from the first week. - 28 Feb 2026 pivotal Operation Epic Fury opens the war; Khamenei killedTehran
On 28 February 2026 the US and Israel launched ~900 strikes in 12 hours under Operation Epic Fury, killing Supreme Leader Ali Khamenei and dozens of officials. Iran retaliated with ~170 ballistic missiles across the Gulf and Israel — the first of more than 1,850 it would fire over the following 100 days. The 900-strike decapitation was a bet on rapid regime collapse that did not materialise; Iran installed Mojtaba Khamenei as successor within days. The opening became the reference point against which every later escalation, and the failure to end the war, is measured.
MilitaryA 900-strike opening that decapitated the leadership was a bet on rapid collapse — the reference point against which every later escalation is measured, and the start of an Iranian missile campaign that would exceed 1,850 by day 100.PoliticalKilling Ali Khamenei but failing to topple the regime — Mojtaba Khamenei succeeded within days — meant the strike removed a man without removing the state, setting up the attritional stalemate rather than the quick win it sought.DoctrineCompressing ~900 strikes into 12 hours maximised shock, but Iran's ~170-missile same-week response showed decapitation did not degrade its retaliatory capacity, previewing the air-power lesson the whole war would repeat.
Background
On 28 February 2026 the US and Israel launched ~900 strikes in 12 hours under Operation Epic Fury, killing Supreme Leader Ali Khamenei and dozens of officials. Iran retaliated with ~170 ballistic missiles across the Gulf and Israel; within days Hezbollah opened a Lebanon front, the US sank Iranian naval vessels, Mojtaba Khamenei was installed as the new Supreme Leader, and the war touched some nine countries.
By mid-March the IRGC had forbidden passage, boarded and attacked merchant ships, and laid sea mines in the Strait of Hormuz; commercial traffic collapsed more than 90% (later ~95%, from ~100 vessels/day to ~6) and oil reached $126/bbl. Hormuz control is Iran's main leverage: on 30 April Mojtaba Khamenei vowed to control shipping and stand up a toll regime, and the US answered with the State Department–CENTCOM 'Maritime Freedom Construct' coalition and a naval blockade of Iranian ports.
After five weeks of fighting the US and Iran agreed a ceasefire on 7–8 April that also covered Israel and was meant to reopen the strait. It frayed almost at once: the Islamabad talks failed, the US Navy began blockading Iranian ports on 13 April (a 'dual blockade'), Iran stood up a state toll agency demanding cargo data and war-damage reparations, and the US blocked 70+ tankers (166M barrels, ~$13B). Iran briefly reopened the strait on 17 April (oil fell 11%), but by late May the truce had collapsed and strikes resumed.
Iran will not surrender Hormuz or its near-weapons-grade enriched uranium without nuclear and sanctions guarantees — Mojtaba Khamenei directed on 21 May that the stockpile must not leave Iran; the US will not lift the blockade without it; Pakistan-mediated talks have stalled over sequencing and Iran's demand for $24B in frozen assets; and a Trump–Netanyahu divergence (Trump seeking a phased regional exit, Israel pressing Lebanon) blocks a settlement.
The closed strait has driven the worst global energy crisis in decades (jet fuel +84%, a ~$100B airline cost hit, ~$750 per US household), pushed US inflation to multi-year highs, cost the US ~$29B and 42 aircraft lost or damaged, and left Iran's bombed nuclear programme unaccounted for. Lebanon is now the most active front as the ceasefire frays.