President Donald Trump threatened this week to declare the Strait of Hormuz a U.S. territorial waterway as part of an escalating confrontation with Iran, a move that would have sweeping implications for global oil markets and international maritime law. The statement came amid a broader U.S. military and economic campaign aimed at pressuring Tehran, which administration officials say is nearing defeat.

The U.S. Navy has positioned at least two aircraft carrier strike groups — including the USS Abraham Lincoln and USS George Washington — in waters near the strait, the narrow chokepoint through which roughly 20 percent of the world's oil supply passes. The naval buildup signals a significant escalation in American military posture in the region.

UAE oil tankers operating in or near the Strait of Hormuz were reportedly attacked by Iranian drones, according to reports citing Gulf state officials who attributed the strikes to Iran. The attacks drew condemnation and added urgency to calls for a naval blockade. A separate large oil leak was also discovered in waters near the strait, though its origin remained under investigation.

Vice President JD Vance and other senior administration officials have publicly framed the strategy as one of maximum economic pressure, with the goal of collapsing Iran's oil revenues. Low global oil prices have been cited by administration officials as a deliberate tool to limit Iran's ability to fund its military operations and proxy networks across the region.

Trump's territorial claim over the Strait of Hormuz has no established basis in international law; the waterway passes through the territorial waters of Iran and Oman, and freedom of navigation through international straits is protected under the United Nations Convention on the Law of the Sea. Legal analysts have noted that any formal U.S. attempt to assert sovereignty would face immediate challenges from numerous countries dependent on access to the Persian Gulf.