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President Trump announced Project Freedom on Monday to assist stranded ships in transiting the Strait of Hormuz, leading to exchanges of fire with Iranian forces. The U.S. military reported destroying six Iranian boats and downing missiles, while Iran claimed to have struck a U.S. frigate. Oil prices fell as two U.S.-flagged vessels successfully passed through the waterway.
Al JazeeraU.S. naval forces destroyed six Iranian small boats and shot down missiles and drones in the Strait of Hormuz on May 4, 2026, as part of an operation to reopen the waterway to commercial traffic, according to Adm. Brad Cooper, who commands U.S. naval forces in the Middle East.
The operation, dubbed Project Freedom, involved U.S. warships guiding stranded commercial vessels through the strait, which carries about 20% of the world's oil exports. President Donald Trump described the effort in a statement as a "humanitarian gesture on behalf of the United States, Middle Eastern countries, and particularly Iran," noting that many ships were running low on food and other necessities for their crews.
Iran's Islamic Revolutionary Guard Corps (IRGC) claimed it fired on a U.S. frigate with two missiles after it disregarded warning shots, but the U.S. military called this assertion false. IRGC spokesman Brigadier General Mohbi stated that Iran was in full control of the Strait of Hormuz and that any vessel trying to transit without adhering to protocols would face serious risks and be stopped with force.
Iranian parliamentarian Ebrahim Azizi posted a warning that any American interference would be considered a violation of the ceasefire agreement following U.S. and Israeli strikes on Iran on February 28, 2026.
Two U.S.-flagged merchant ships successfully transited the strait on May 4, the first American commercial vessels to do so since Iran effectively closed it during the conflict. The U.S. military encouraged other ships to pass through, with American warships assisting in restoring transit.
Separately, tensions escalated with reports of strikes on the United Arab Emirates and Oman, including suspected Iranian drone and missile attacks that set a UAE oil facility on fire. The UAE foreign ministry reported an Iranian barrage targeting the country and stated it reserved the right to respond.
French President Emmanuel Macron stated in an interview with France 24 that the U.S. should pursue a coordinated effort with Iran rather than a unilateral operation. Jennifer Kavanagh, director of military analysis at Defense Priorities, discussed the plan in a Forbes interview, noting potential risks but without providing specific quotes on outcomes.
, and U.S. crude oil prices dropped amid the resumption of escorted transits. S&P 500 futures rose slightly that day. An estimated 16 U.S. vessels were in the region, according to Pentagon statements.
Shipping firms have not publicly confirmed participation in the transits as of May 4, and no publicly released evidence has documented the full extent of Iranian interference claims. The vessels' operators have not been publicly identified by the U.S. government. Iran's foreign ministry has not commented on the humanitarian aspects of the operation as of the latest reports.
Separately, President Trump signed S. 723, the Tribal Trust Land Homeownership Act of 2025, into law on May 4, 2026, establishing deadlines for the Bureau of Indian Affairs to process residential and business leasehold mortgages on trust or restricted Indian land. Trump also posted that he would increase tariffs on EU cars, amid European countries' refusal to send navies to the strait.
TankerTrackers data shows 36 million barrels shipped and another 36 million still at sea. Iranian officials separately reported 25 million barrels crossing the blockade line since Monday.
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