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Story summary
- Iran moves to formalize control of the Strait of Hormuz, carrying one-fifth of oil and gas trade.
- Tehran says a deal with Oman requires the United States to lift its blockade, which President Donald Trump must approve.
- Analysts say the strait gives Iran leverage over the United States and boosts legitimacy, while a December currency crisis sparked protests that were cracked down on, killing thousands and detaining tens of thousands.
