Vice President JD Vance declared Thursday that Iran’s control over the Strait of Hormuz is “effectively gone” and the strategic waterway is becoming a “diminishing asset,” pointing to surging oil flows as U.S. forces keep shipping lanes open and repeatedly destroy capabilities Tehran attempts to rebuild around them.

Speaking during a White House press briefing, Vance said Iran is “losing their capabilities by the day” and increasingly confronting the reality that it can no longer wield Hormuz as it did earlier in the conflict.

Vance pointed to the sharp turnaround in energy traffic through the waterway, contrasting current conditions with…

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