US President Donald Trump has said Iran is facing a serious financial crisis, with the country losing “$500 million a day” due to tensions around the Strait of Hormuz.
In a post on Truth Social, Trump wrote: “Iran is collapsing financially! They want to open the Strait of Hormuz immediately – money hungry!”
Reflection of the Strait of Hormuz
Trump has argued that Iran’s stance on a key shipping route is driven by economic pressure. “Iran doesn’t want the Strait of Hormuz to be closed, it wants to open it so it can make $500 million a day,” he said, adding that losses due to the restrictions were mounting.
He further claimed that the situation is affected by the US-led blockade. “They just say they want to shut it down because I have it completely BLOCKED,” Trump wrote.
The president suggested that reopening the strait could weaken leverage in any negotiations. “If we do that, there will never be a deal with Iran,” he said.
Escalating rhetoric
In a stark warning, Trump added that drastic measures could follow if pressure is not kept up. “…unless we blow up the rest of their country, including their leaders!” he wrote
Hormuz closed as Iran-US standoff deepens; speaks uncertainly
The Strait of Hormuz – through which about a fifth of the world’s oil flows – remains closed after Iran closed the vital waterway on Saturday, reversing earlier assurances that it was open to commercial traffic.
Tehran has vowed to keep the strait closed until the United States lifts the blockade, rejecting Western calls to reopen the route.
Uncertainty also surrounds the second round of US-Iran talks. JD Vance, who was previously expected to lead the delegation to Islamabad, remains in Washington.
But Trump said a new round of talks within 36 to 72 hours is “possible,” according to the New York Post.
Military and naval incidents
Tensions escalated as Iranian forces targeted commercial shipping in the strait. The Islamic Revolutionary Guard Corps said it seized two vessels – the Liberian-flagged MSC Francesca and Epaminondas – while gunboats fired at another ship.
The vessel Epaminondas, managed by Technomar Shipping Inc., sustained bridge damage, although its crew remained safe.
British Maritime Merchant Operations also reported that several ships had come under fire in the waterway.
Blockade and shipping crisis
Iran has implemented strict controls that require vessels to apply for permission to pass through the Persian Gulf. The ongoing standoff has left about 800 ships stranded in the Persian Gulf.
The International Maritime Organization said it was working on evacuation plans depending on the de-escalation.
The dynamics of the ceasefire
The crisis comes as the conflict enters its eighth week. Trump extended the truce indefinitely but maintained the US blockade and kept pressure on Tehran.
Read also | Trump says US-Iran peace talks ‘possible’ as early as Friday; Tehran denies the claims
