President Trump announced on Sunday that the United States would begin coordinating the movement of commercial vessels out of the Strait of Hormuz, launching an initiative he called Project Freedom and describing it as a humanitarian gesture toward neutral countries whose ships have been stranded by the conflict between Washington and Tehran. Wall Street Journal reports (gated). Writing on Truth Social, Trump said governments around the world had approached the US for help freeing vessels locked in the waterway. He said the US had committed to guiding those ships safely through the restricted passage so they could resume normal operations. The initiative is set to begin Monday morning, Middle East time.A senior US official clarified that Project Freedom is a coordination mechanism through which countries, insurers and shipping organisations can work together to move traffic through the strait. It does not, at this stage, involve US Navy warships physically escorting vessels through the waterway.The official also confirmed that Iran's Islamic Revolutionary Guard Corps has recently laid naval mines in the strait, adding a significant new hazard for commercial shipping in a passage that, before the conflict began, carried roughly a fifth of the world's oil supply.Trump warned that any attempt to interfere with the process would be dealt with forcefully, while also noting that discussions with Iran were continuing and could lead to a positive outcome for all sides. He offered no detail on what role, if any, Tehran was expected to play in the initiative.The announcement stops short of a direct naval confrontation but places the US in an active role inside one of the world's most strategically sensitive waterways, at a moment when the broader ceasefire between the US, Israel and Iran remains fragile and unresolved. Market response so far:Oil down, equities up on Trump's Hormuz plan just announced. Leaves Iran all at sea. This article was written by Eamonn Sheridan at investinglive.com.