Iran ridicules Trump’s aborted Project Freedom as 2,000 ships remain trapped and $100 bn in assets stay frozen

Context Donald Trump halted “Project Freedom” – a plan to open the Strait of Hormuz with U.S. air cover for commercial traffic – less than 24 hours after announcing it. The cancellation followed Saudi Arabia’s refusal to let U.S. forces use its bases, a move Saudi officials said came after an Iranian attack on oil facilities in Fujairah. The abrupt shift left the Gulf’s shipping lanes largely unchanged.

Key Facts - Iran’s parliamentary speaker Mohammad Bagher Ghalibaf posted on X, “Operation Trust Me Bro failed,” branding the effort a flop. - The International Maritime Organization estimates roughly 2,000 commercial vessels remain stuck in the Gulf, unable to navigate the strait. - Iran still has about $100 bn in assets frozen worldwide under previous sanctions regimes. - The United States has presented a 14‑point plan that mirrors Tehran’s recent 14‑point proposal, demanding a lift of the blockade and early release of frozen funds before negotiations resume. - Senior U.S. negotiators include Jared Kushner, Steve Witkoff, and analyst Nick Stewart, all viewed by Tehran as biased toward Israeli interests.

What It Means The public derision from Ghalibaf underscores Tehran’s confidence that the U.S. plan lacks credibility. With 2,000 ships immobilized, commercial pressure on the region remains high, but the absence of a diplomatic breakthrough suggests the strait will stay effectively closed for now. The $100 bn in frozen assets will dominate any future settlement, yet past U.S. resistance to releasing those funds signals a protracted bargaining process. As Trump prepares a trip to China, the next week will likely see intensified back‑channel talks, with the fate of the trapped vessels and frozen wealth hanging in the balance.

Watch for any shift in U.S. negotiating personnel or a formal response from Tehran that could reopen the corridor or trigger new sanctions.