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Intercepted Iranian Missile Injures 5 Americans At Kuwaiti Air Base; Tehran Identifies Two Key MOU Sticking Points

Tyler Durden's Photo
by Tyler Durden
Authored...

Summary

  • Iran is pushing forward legislation formalizing control/management of Hormuz Strait shipping, which flies in the face of Trump warnings & conditions.
  • An Iranian Fateh-110 short-range ballistic missile targeted Kuwait's Ali Al Salem Air Base, a key operational hub for the U.S. Air Force. BBG says missile intercepted, but falling debris struck part of the base, injuring five Americans.
  • Two more American drones reported destroyed or damaged in the Kuwait base attack (DropSite/BBG).
  • Iran says two big MOU agreement issues remain & are not finalized: Unfreezing of Assets & Sanctions, Nuclear File
US-Iran nuclear deal by July 31?
Yes 55% · No 45%
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Iran Moves to 'Legalize/Formalize' Management Of Hormuz Strait

A Saturday message and warning from Iran’s Khatam al-Anbiya Central Headquarters via Al Jazeera: "The management of the Strait of Hormuz is exercised with full authority by the Armed Forces of the Islamic Republic of Iran." It added that "all ships, commercial vessels and tankers are only required to travel through the designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy."

So despite President Trump's latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.

State-run Nour News is reporting that a bill outlining Tehran's role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.

According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that "only Iran and Oman can decide on Strait of Hormuz management" - adding that "the Omani side has given preliminary approval" to Tehran's plan. He further emphasized the strategic importance of Hormuz, declaring that "the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs."

Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund - all of which critics have dismissed as but Tehran's ruse to collect what is in effect a "toll". The legislation is expected to undergo review by Iran's Guardian Council, which is responsible for vetting and approving all laws before they take effect.

More Reported US Drones Destroyed

Reports of more MQ-9 Reaper damage or destruction have emerged; however, the Pentagon has not verified this, and is not expected to. This along with the past week of 'live-fire' tit-for-tat incidents suggests an escalating situation, even as the warring sides try to get back to the peace negotiations table. It looks like it could be related to the Saturday missile attack on a US base in Kuwait, but details are murky. Per DropSite:

MOU Holdup: The Sticking Points

Some latest commentary on where things stand via Al Jazeera... the key issues:

  • Unfreezing of Assets & Sanctions
  • Nuclear File

"So far, there is no timeframe. However, we know that the negotiations are still continuing. The agreement, according to Iranian officials here, is not finalised yet. Proposals and messages are being exchanged through Pakistani mediators and some other regional players as well," the report says. Per AJ:

The Iranians, while saying that it is not finalised, have largely agreed on many items. However, there are still some sticking points.

Finally, the Iranians are quite clear at this stage. They are saying that they are not discussing the nuclear file or nuclear programme unless confidence-building measures are put in place. Only if the first phase is successful will they be open to discussing their nuclear programme.

These confidence-building measures have been precisely identified as the unfreezing of billions in assets held aborad.

New Iranian Attack on US Base in Kuwait

An Iranian Fateh-110 short-range ballistic missile targeted Kuwait's Ali Al Salem Air Base, a key operational hub for the U.S. Air Force's expeditionary forces in the Gulf region. An initial report from Bloomberg News indicates that Kuwaiti air defenses intercepted the tactical ballistic missile in the last 24 hours, but falling debris struck part of the base, injuring five Americans and damaging one MQ-9 Reaper drone while severely damaging another.

About five people, including both contractors and active duty personnel, suffered minor injuries, the person said. One Reaper was destroyed and at least one other was seriously damaged. -BBG

News of the strike on ASAB, where the 386th Air Expeditionary Wing under U.S. Air Forces Central acts as a forward logistics, airlift, and combat-power gateway for the broader CENTCOM theater, comes as the US and Iran on Friday reached a tentative memorandum of understanding to extend a ceasefire by 60 days and restart nuclear negotiations. However, the proposal still requires final approval from President Trump, according to U.S. officials cited by Fox News.

Treasury Secretary Scott Bessent also indicated yesterday that Washington is maintaining maximum leverage, saying sanctions relief will remain off the table unless Tehran reopens the Hormuz chokepoint, transfers highly enriched uranium, and accepts that it cannot maintain a nuclear program. Meanwhile, Secretary of War Pete Hegseth attended the Shangri-La Dialogue in Singapore overnight, where he said the US military is prepared to resume strikes against Iran if negotiations over the nuclear program collapse.

"Any deal will be a good one. A great one," Hegseth said Trump told him. "And if Iran doesn't want to make a great deal that ensures they don't get a nuclear weapon, they can deal with the guy on my left," he added, referring to the War Department. "We are more than capable," Hegseth noted in reference to a renewed military strike against Tehran. "Our stockpiles are more than suited for that, both there and around the globe."

Hegseth's remarks came just hours after Trump met with officials in the White House Situation Room to discuss the next phase of negotiations with Iran. "The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon," a White House official said in a statement issued late Friday.

MOU Not Finalized, Tehran Confirms

Iran's Foreign Ministry commented on the memorandum of understanding between the two nations, stating that nothing has been finalized yet.

News of progress toward a peace deal comes as energy experts warn of an energy cliff that could emerge as soon as next month if the Hormuz chokepoint remains closed. It's clear that inventories, floating storage, rerouted cargoes, emergency substitutions, and rationing have absorbed the initial shock of lost Gulf-area crude, offsetting the roughly 10 million barrels of oil that weren't reaching their intended destinations each day. Additionally, daily headlines have pushed Brent crude futures to $91 per barrel by Friday afternoon.

But as we've warned, if the Hormuz chokepoint doesn't reopen in the near term, crude oil could soon be aggressively repriced higher, as those inventories are being drained at an alarming rate.

Latest on the energy market:

Latest Bloomberg headlines:

US Naval Blockade

  • The US continues its blockade of Iranian vessels, with the US Central Command attempting to stop Iranian vessels seeking to pass through the blockaded area by issuing warnings along the blockade line.

  • US blockade of the Strait of Hormuz is still in place as of Saturday morning.

Iranian Missile Attacks

  • An Iranian ballistic missile strike on Kuwait's Ali Al Salem Air Base within the past 24 hours caused minor injuries to several Americans and seriously damaged two MQ-9 Reaper strike drones.

  • Kuwaiti air defenses intercepted the Fateh-110 missile, but falling debris struck the air base.

Ceasefire Negotiations

  • The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss Tehran's nuclear program, but President Trump has yet to agree to the terms.

  • Trump left a two-hour Situation Room meeting on Friday without deciding on the possible deal, despite earlier suggesting an agreement was near.

  • Defense Secretary Pete Hegseth said Saturday that the US is ready to restart attacks on Iran if a deal cannot be reached.

Strait of Hormuz Transit

  • Iran state TV reports that 2 ships have crossed the Strait of Hormuz in the past 24 hours.

  • The US affirmed that deals with Iran to sail through the Strait of Hormuz safely are prohibited, regardless of whether a payment is made.

  • Several vessels transiting through the Strait of Hormuz have been attacked in recent days, according to the Chevron CEO.

  • Qatar opposes permanent legal fees for transit through the Strait of Hormuz, but a temporary fee for mine-clearing purposes is negotiable.

Polymarket:

Strait of Hormuz traffic returns to normal by June 15?
Yes 8% · No 93%
View full market & trade on Polymarket
US x Iran permanent peace deal by June 7, 2026?
Yes 14% · No 86%
View full market & trade on Polymarket

The clock is ticking for a deal to avert an energy cliff that top energy experts warn is near.

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