Trump's Project Freedom to escort Hormuz ships
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- Trump announced Project Freedom, ordering U.S. Navy vessels to escort commercial ships out of the Strait of Hormuz starting Monday.
- Iran reported an attack on a bulk carrier near Sirik on May 3, marking at least two dozen attacks since the war began.
- Iranian Revolutionary Guards warned the United States faces an “impossible” military operation or a “bad deal” if it intervenes in the strait.
- Saudi Arabia and Russia, along with five OPEC+ members, raised the oil production quota by 188,000 bpd for June.
- UK Maritime Trade Operations warned vessels to transit the strait with caution after the latest attack.
Why it matters: U.S. shipping firms gain safe passage, while Iranian naval forces lose leverage; the 188,000‑bpd oil output boost offsets market shock, and the escort operation emboldens further U.S. naval involvement.
