Who is controlling Hormuz?

David Llewellyn-Smith

Monday 31 August 2026

The war headlines.

Iran declares it will stand against US sanctions and rely equally on defence and diplomacy.
The Islamic Revolutionary Guard Corps of Iran (IRGC) asserts that it has complete control over the Strait of Hormuz .
Al Jazeera was informed by the White House that the US naval blockade is still in full effect and mines have been cleared.

So, who is controlling the Strait of Hormuz? Goldman.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.