US forces targeted Iranian drones near Bandar Abbas as the IRGC claimed it struck back at a US airbase, while Washington sanctioned Tehran's Hormuz toll authority and both sides published contradictory accounts of a possible deal.

Iran and the US have continued to insist on fundamentally diverging versions of any final deal to end the ongoing war, as both sides reportedly exchanged strikes in the Persian Gulf for the second time in three days and Washington sanctioned Tehran's new Hormuz transit authority.

The US Treasury Department's Office of Foreign Assets Control placed the Persian Gulf Strait Authority on its sanctions list on Wednesday, saying it was "a new attempt by the Islamic Revolutionary Guard Corps to monetise its campaign of state-sponsored terror by extorting vessels transiting the Strait of Hormuz."

Treasury said the PGSA "spearheads an Iranian-controlled scheme that flagrantly violates international law and US sanctions," and warned that any payment to the body for passage through the strait could expose individuals and companies to sanctions.

Iranian officials had previously spoken publicly about a fee of $2 million (€1.7m) per vessel.

The Washington-based Institute for the Study of War think tank (ISW) said senior Iranian officials were framing control over the strait as a strategic necessity and a core element of deterrence against the US and Israel.

The ISW noted that any arrangement requiring maritime traffic to pass through an Iranian-approved traffic separation scheme would directly contradict the US demand for freedom of navigation and establish a dangerous precedent for international waterways.

Asked whether he would accept a short-term arrangement under which Iran and Oman controlled the waterway, US President Donald Trump said that "the strait is going to be open to everybody. It's international waters. We'll watch over it, but nobody's going to control it."

"Oman will behave like everybody else or we'll have to blow them up. They understand that."

The White House denied the existence of a draft agreement published by Iranian state television regarding the negotiations, calling it "a complete fabrication". (Euronews, 2026-05-28)