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The US-Iran ceasefire has almost completely collapsed – Fighting erupts in Hormuz, drawing the UAE and South Korea into the conflict.

The US-Iran ceasefire agreement is on the brink of total collapse as fresh fighting has erupted in the Strait of Hormuz.

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A patrol boat moves through the water as cargo ships sit at anchor in the Strait of Hormuz off Bandar Abbas, Iran, Saturday. Amirhosein Khorgooi/ISNA via AP

According to multiple reports, Iranian forces clashed with US naval assets, leading to the involvement of vessels from the United Arab Emirates and South Korea in defensive operations. The escalation has dramatically increased tensions in one of the world’s most critical oil chokepoints.

This development comes just days after President Trump met with his national security team to review Iran’s latest proposal. Analysts warn that a full breakdown could trigger sharp spikes in global oil prices and further cement Bitcoin’s role as a geopolitical safe-haven asset.