Politics

Executive summary

Tensions between the United States and Iran escalated on May 28, 2026, with both nations reporting military actions. The U.S. military accused Iran of violating a fragile ceasefire after Kuwait reported missile attacks, while U.S. forces had conducted strikes on Iranian military targets for the second time this week. Iran's Revolutionary Guard Corps (IRGC) claimed to have targeted a U.S. airbase in retaliation for earlier U.S. strikes near Bandar Abbas airport. Concurrently, President Trump issued a warning to Oman, threatening to 'blow them up' if they did not 'behave just like everybody else' regarding control of the Strait of Hormuz, amidst reports of a plan for Oman and Iran to jointly charge tolls for passage. The U.S. Treasury Department also announced sanctions on Iran's newly launched Persian Gulf Strait Authority. These developments have contributed to doubts over an imminent end to the conflict and led to an increase in oil prices.