Iran’s UN mission delivered a blunt message to the world: as the main coastal state bordering the strait, Tehran holds the legitimate and legal right to take whatever measures it deems necessary in this critical waterway. And it made clear that any disruption to maritime transit is on Washington, not on Iran.

The message lands squarely on Donald Trump, who is enforcing a naval blockade on Iranian ports and has threatened to destroy the country’s infrastructure. Iran accuses Washington of acting illegally and endangering international navigation with its military intervention.

New leader Mojtaba Khamenei sharpened the rhetoric further, declaring that the strait “will be managed by new rules” set by Tehran and that the only place for Americans in the Persian Gulf is “at the bottom of its waters”. Iran also reminds the world it never signed the 1982 UN Convention on the Law of the Sea, so it considers itself unbound by its provisions.

The standoff is paralyzing the planet. About 20% of the world’s oil and roughly 25% of globally traded liquefied natural gas flow through this passage. Brent crude hit 126 dollars per barrel at its peak, while US drivers are now paying more than 4.20 dollars per gallon of gasoline, the highest level in four years.