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A bulk carrier has been attacked by multiple small boats off the coast of Iran near the Strait of Hormuz.

Some shit you should know before you dig in: The US-Israeli conflict with Iran kicked off Feb 28, and the Strait of Hormuz (the narrow waterway that handles roughly a fifth of the world’s oil and gas trade) has been at the center of it ever since. Iran has kept the strait largely sealed off to commercial shipping since fighting started, though some vessels get waved through if they pay Iran a toll. The US answered with its own naval blockade on April 13, and US Central Command says 49 commercial ships have been turned away from Iranian ports so far. More than 24 shipping incidents have been logged in or near the waterway since fighting began, including an April 22 hit on three cargo ships that ended with Iran seizing two of them. A shaky truce that Pakistan brokered on April 8 has now run three weeks without falling apart, though Trump keeps publicly floating the possibility of more strikes and there’s still no permanent deal on the table.

What’s going on now: The United Kingdom Maritime Trade Operations (UKMTO) said in a statement Sunday that the bulk carrier’s captain radioed in that small craft had hit his northbound ship roughly 11 miles west of the Iranian port town of Sirik, which sits on the strait’s northern shore. Everyone on board was accounted for and unharmed, and the ship didn’t leak anything.

The agency is asking other ships moving through the area to stay alert and report anything unusual to UKMTO while it digs into what happened. No group has stepped up to claim the attack yet, and it’s the first incident logged in this stretch of water since the April 22 triple-hit.

This comes as US Treasury Secretary Scott Bessent told Fox News Sunday that the blockade is squeezing Iran hard, with Tehran pulling in less than $1.3 million in tolls from ships and Iran’s oil storage tanks running out of room. He said Iran will likely have to start shutting in oil wells within the next week. The rial has continued to slide on the back of all this, hitting 1,840,000 to the dollar.

Where talks stand: Iran’s latest 14-point proposal, sent through Pakistani mediators, asks for the US to lift sanctions, end the naval blockade, pull its forces out of the region, and stop all hostilities (including Israel’s ongoing operations in Lebanon). The proposal calls for everything to be resolved within 30 days, with the goal of a permanent end to the war rather than another ceasefire extension. Notably, the proposal makes no mention of Iran’s nuclear program or its enriched uranium stockpile (which has been the central US demand throughout). Iranian Foreign Ministry spokesman Esmail Baghaei confirmed the omission, saying, “at this stage, we have no nuclear negotiations.”

Speaking to reporters Saturday, Trump said the proposal was on his desk but he wasn’t holding his breath. He later posted on social media that the Iranians “have not yet paid a big enough price for what they have done” in the nearly 50 years since the Islamic Revolution. Touring port infrastructure on Larak Island Sunday, Iran’s deputy parliament speaker Ali Nikzad said Tehran “will not back down from our position on the Strait of Hormuz, and it will not return to its prewar conditions.”