The United States issued a warning on Thursday about the possibility of keeping a naval blockade against Iran in place indefinitely. This move comes as ceasefire negotiations have hit a roadblock, global oil supply is decreasing, and tensions in the region are escalating.
Speaking to the press during a visit to Panama, U.S. Defence Secretary Pete Hegseth stated that the U.S. military could sustain a naval presence in the area to enforce the blockade on Iran, causing significant economic harm to the country.
Following a failed agreement in June to end the conflict, Iran has been attempting to control the vital Strait of Hormuz and has been involved in attacks on ships passing through the strategic waterway. Recent reports indicated that two vessels belonging to the Abu Dhabi National Oil Company were targeted while navigating the strait, leading to condemnation from the United Arab Emirates government.
The number of ships passing through the Strait of Hormuz has declined, with only eight vessels recorded on Tuesday compared to an average of 12 over a 10-day period and up to 140 before the conflict began in February.
Despite President Donald Trump’s claims of “total control” over the strait, Iran remains steadfast in its position that the waterway is blocked until certain conditions are met, including the removal of economic sanctions and the release of frozen Iranian assets.
The U.S. briefly lifted its blockade on Iran’s shipping and ports in mid-June but reinstated it shortly after, cutting off Tehran’s main source of revenue and compounding losses from earlier attacks on its energy facilities during the war.
In response to the escalating situation, U.S. Treasury Secretary Scott Bessent announced plans for unprecedented measures against Iran, including a combination of economic isolation and the continued blockade of the Strait of Hormuz.
Facing domestic pressure to end the unpopular conflict, President Trump has been exploring various options, including economic strategies rather than military actions. However, concerns about the impact of the war on global oil supply and potential economic repercussions persist, with experts warning of a possible downturn in global growth and the risk of recession if the conflict persists.