Ongoing US-Iran military exchanges in the Strait of Hormuz, including reported US projectile strikes on Hengam Island in July 2026 and related targets on nearby Larak and Qeshm islands, have kept the island in focus for traders. Iranian forces, including IRGC units, maintain operational presence with naval and defensive infrastructure, as affirmed in early September statements asserting firm control over the strait and southern islands. Tehran has reinforced positions across the Hormuz defensive line amid the broader conflict that escalated in February 2026, while environmental fallout from strikes has affected coastal areas without altering territorial administration. No reports indicate occupation, handover, or establishment of alternative authority on Hengam itself. Trader-implied probabilities remain low for loss of control by late September, reflecting the distinction between bombardment and sustained shifts in primary governmental or military authority.