The Trump Administration is reportedly considering plans to occupy or blockade Iran's Kharg Island to pressure Iran to reopen the Strait of Hormuz, Axios reports citing sources

• Such an operation, if approved, would also require more troops. Three different Marine units are on their way to the region. The White House and the Pentagon are considering sending even more troops soon, a US official said.
• Such an operation would only be launched after the US military further degrades Iran's military capacity around the Strait of Hormuz, Axios says; "We need about a month to weaken the Iranians more with strikes, take the island and then get them by the balls and use it for negotiations," a source with knowledge of the White House thinking said.

The reported consideration of U.S. military action to occupy or blockade Kharg Island underscores escalating tensions with Iran and could significantly impact global oil supplies, especially through the strategically vital Strait of Hormuz. If pursued, this move suggests a more aggressive U.S. posture, likely leading to increased volatility in oil prices and an uptick in risk-off sentiment across financial markets, particularly impacting currencies and equities tied to energy.