Trump pauses U.S. bid to guide ships out of Strait of Hormuz, cites Iran deal progress [View all]
Source: CNBC
Published Tue, May 5 2026 7:06 PM EDT Updated 2 Min Ago
President Donald Trump said Tuesday he is pausing “Project Freedom,” the U.S. military’s effort to guide commercial ships out of the Strait of Hormuz, one day after the operation began. Trump, in a Truth Social post, said the decision was based in part on “the fact that Great Progress has been made toward a Complete and Final Agreement” with Iran.
Project Freedom “will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,” Trump wrote. Stock futures rose following Trump’s announcement, which raised hopes for a peace agreement that would end the U.S.-Israeli war in Iran and reopen the economically vital strait.
Trump announced Project Freedom on Sunday evening, saying the U.S. has assured countries whose vessels are stuck due to the war that it will “guide their Ships safely out of these restricted Waterways.”. The Trump administration has said that nearly 23,000 sailors on vessels representing 87 countries have been stranded in the Persian Gulf because of Iran’s de facto closure of the Strait of Hormuz.
U.S. Central Command said Sunday evening that the military would deploy “guided-missile destroyers, over 100 land and sea-based aircraft, multi-domain unmanned platforms, and 15,000 service members” to support Project Freedom. Iran has responded to Project Freedom with renewed hostility.
Read more: https://www.cnbc.com/2026/05/05/trump-iran-deal-project-freedom-hormuz-strait.html
More market manipulation.
Article updated.
Original article -
President Donald Trump said Tuesday he is pausing “Project Freedom,” the U.S. military’s effort to guide commercial ships out of the Strait of Hormuz, one day after the operation began.
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