Mike Baker

And a third vessel, the Euphoria, was struck near the Iranian coast and left stranded in place.

Now, the attacks alone would be significant, but now they're not just disrupting shipping or firing warning shots, they're actively taking control of the commercial vessels.

It's not something new for the regime.

The Iranian government has a fairly long history of seizing vessels in the Strait of Hormuz.

It's been part of their playbook when trying to exert control over the waterway.

But with this latest conflict, at least up until now, Iran's playbook in the street has largely focused on harassment.

They've been shadowing ships, issuing warnings and occasionally firing to force vessels to turn around.

But seizing commercial ships and moving them into Iranian waters is something else entirely.

These are civilian vessels with civilian crews now under the control of Iranian forces.

They're hostages with the ability to release or not release them, depending on how negotiations unfold.

To be fair, the regime has been in the hostage business for its entire existence.

President Trump's ceasefire extension was meant to create space for negotiations with U.S.

officials indicating Iran would have a short window, just a matter of days, to present a unified proposal.

But at the same time, those same officials acknowledge that Iran's leadership appears to be fractured with competing factions divided on how to proceed.

So what you may be seeing here is the hardliners of the regime exerting control.

And that brings us to where things stand now, because when it comes to negotiations, the picture is, well, murky at best.

On the U.S.

side, there are signs of optimism.

But then again, the White House seems to specialize in making optimistic pronouncements, regardless of the realities on the ground.

Trump said a new round of talks could be, quote, possible within the next 36 to 72 hours.