Iran, Oman discuss Hormuz tolls; Iranian regime using Binance to evade sanctions; Trump, Netanyahu clash over war strategies.
Meanwhile, Iran is producing drones again as rearmament beats expectations, and a resolution limiting Trump’s war powers is delayed in Congress.
Editor’s note:
Finding it impossible to keep up with the chaos of multiple wars around the world these days? Our team writes these roundups with you in mind, aiming to cut through the noise and get you the reporting you need to get on with your day.
The latest news at this hour:
IRAN, OMAN DISCUSS HORMUZ TOLLS: Ignoring warnings from the Trump administration, Iran is seeking closer cooperation with Oman on regulating and monetizing maritime traffic through the Strait of Hormuz.
However, on Thursday, Trump said that any deal between the U.S. and Iran would rule out a tolling system for Iran and in the past has suggested that it should be the U.S. that profits from the toll system. As Iran and Oman try to negotiate new terms for transit through the Strait of Hormuz, the likelihood of progress and a lasting agreement between the U.S. and Iran moves further out of reach.
At the same time, Iran’s newly created Gulf Strait Authority stated that it had established a “management and monitoring zone” in the Strait of Hormuz, with certain activities potentially requiring official authorization. Over the last 24 hours, 26 commercial vessels have successfully passed the Strait of Hormuz, including oil tankers and container ships.
Iran and Oman insist their plans are legal, proposing fees only for specific maritime services provided to vessels — such as waste disposal and port assistance — rather than charging ships simply for crossing the waterway.
IRANIAN REGIME USING BINANCE TO EVADE SANCTIONS: Investigations based on internal compliance reports and blockchain data show that Binance, the world’s largest crypto currency exchange, was used by Iran-linked networks to funnel billions of dollars to the regime and the Islamic Revolutionary Guard Corps despite international sanctions.
A network connected to an Iranian businessman, who identifies as an “antisanction” agent, Babak Zanjani reportedly reaped about $850 million through Binance transactions over two years, despite the fact that the transactions were flagged. Binance denied knowingly allowing sanctioned transactions on its platform and said it maintains a “zero-tolerance” policy toward illicit activity.
TRUMP AND NETANYAHU CLASH OVER IRAN: Following a phone call on May 19 between Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump, differences reportedly emerged over strategies for handling the conflict with Iran.
The two leaders have called multiple times over the last few days. On Sunday, Trump pushed for more attacks on Iran, an operation that would be called Operation: Sledgehammer. However, on Monday, Trump had moved to pursuing diplomatic talks, supposedly pausing Operation: Sledgehammer.
Netanyahu has expressed frustration with the delayed attacks and ongoing negotiations, pushing for a more aggressive approach.
IRAN’S REARMAMENT BEATS EXPECTATIONS: U.S. intelligence reports indicate that Iran is quickly remilitarizing and restoring military capabilities, contradicting earlier claims by U.S. CENTCOM that 90% of Iran’s defense-industrial base had been destroyed. Six weeks into the ceasefire, Iran has already restarted drone production lines, CNN reports.
A significant share of Iran’s coastal defense cruise missiles have also remained intact, critical for threatening shipping in the Strait of Hormuz. Several launch systems are believed to remain operational underground after being buried, but not destroyed, by airstrikes.
Inside Iran, the country’s resilience against U.S. pressure is increasingly being celebrated as a national success. War-themed weddings and weapons training sessions inside mosques are becoming symbols of the regime’s messaging, gradually overshadowing traditional religious narratives.
RESOLUTION LIMITING TRUMP’S WAR POWERS DELAYED IN CONGRESS: A congressional vote aiming to limit President Donald Trump’s ability to expand military action against Iran has been delayed by Republicans after it looked as though it had the support needed to pass.
This comes after the Democrats have tried to push Congress to pass legislation to try to reign in Trump’s war in Iran, but these votes have so far failed. However, this time the Democrats believed they could get the vote pass, after they had succeeded in gaining a few Republican votes. Democrats accused Republican leadership of intentionally delaying the vote.
Even if the resolution ultimately passes both chambers of Congress, Trump could still veto it, arguing that military pressure on Iran is necessary to prevent the country from advancing its nuclear program.
FRANCE MULLS TAX ON BUSINESSES PROFITING FROM ENERGY PRICE SURGE: French Finance Minister Roland Lescure said on Friday debates will be held this fall regarding extra taxes for companies that reaped exceptional profits from the energy price hikes caused by the Iran war.
French oil giant TotalEnergies faced calls for additional taxation at the start of the Iran conflict in February after reporting higher profits linked to rising energy prices during the Iran war.
Stay safe out there!
Best,
Anastasiia
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