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Fortune
Fortune
Jason Ma

Iran’s Hormuz whiplash highlights divide within regime as U.S. blockade tightens: ‘The fight between different factions has started’

IRGC Iran Abbas Araghchi Hormuz Ali Khamenei Donald Trump United States
(Credit: Courtesy of the U.S. Navy)

Iran’s military declared the Strait of Hormuz closed again on Saturday after a head-spinning 24 hours of mixed messages from the regime that underscored friction between competing power centers.

Early Friday, Foreign Minister Abbas Araghchi said the strait was “completely” open to ships that followed Iran’s established route. President Donald Trump also announced Iran had reopened the narrow waterway, sparking a massive stock market rally.

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