President Donald Trump has announced a temporary halt to “Project Freedom,” a military operation initiated to safeguard merchant shipping through the Strait of Hormuz. The decision came just two days after the initiative was launched, with the President citing “great progress” towards a potential agreement with Iran as the reason for the pause.

“Project Freedom” was unveiled on Sunday, intended to restore freedom of navigation in the critical waterway, which Iran had reportedly restricted following heightened tensions in the region. The Strait of Hormuz is strategically vital, accounting for approximately 20% of global oil and gas flows, and its disruption had already triggered significant increases in oil prices and concerns for the international economy. Reports indicated around 1,000 vessels and 20,000 seafarers were stranded in the region.

The operation’s brief execution saw the US military’s Central Command (Centcom) confirm its launch on Monday, involving guided-missile destroyers, over 100 aircraft, and 15,000 personnel. Early reports from Centcom claimed two US-flagged merchant vessels successfully transited the strait. However, this period also saw escalating incidents, including a US military strike on seven Iranian “fast boats” (a claim disputed by Iranian media), a tanker affiliated with the UAE’s Adnoc being hit, an explosion on a South Korean ship, and a fire at the oil port of Fujairah. Furthermore, a French CMA CGM group ship was reportedly struck, injuring crew members.

Just hours before the halt, US Defence Secretary Pete Hegseth and Secretary of State Marco Rubio had publicly affirmed the project’s success and America’s leadership. Hegseth described it as “focused in scope and temporary in duration,” while Rubio characterized it as a “favor to the world.” Despite these assertions, shipping industry sources and insurers reportedly indicated that “Project Freedom” had not provided sufficient clarity or credible protection, leading to continued drops in transit volumes through the strait due to persistent security concerns. The project, which Hegseth had earlier called part of a “laser-focused strategy,” was put on hold by mutual agreement, according to the President.