The United States military blockade of the Gulf of Oman has denied Iran nearly $5 billion in oil revenue since mid-April, according to Pentagon estimates cited by Axios, as Washington steps up economic pressure on Tehran to force a negotiated end to the war.
The Pentagon says 53 million barrels of Iranian oil are stuck in the gulf
The US Defense Department estimates that Iran has been denied nearly $5 billion in oil revenue since the blockade of the Gulf of Oman began on April 13, according to Pentagon officials, as 31 tankers carrying 53 million barrels of Iranian oil remain stranded and unable to deliver their cargo. The figures represent what officials describe as unprecedented economic pressure on Tehran’s government and come as peace talks between the two countries continue to stall and restart.
How the US blockade of the Gulf of Oman is squeezing Iran’s oil exports
Since the blockade was imposed, the U.S. military has diverted more than 40 vessels that tried to pass through and were carrying oil and other contraband, Pentagon officials said. The 31 tankers currently docked in the Persian Gulf are carrying at least $4.8 billion worth of cargo. Two ships were directly seized by the US military.
With new tankers unable to load Iranian oil and land-based storage nearing capacity, Iran has been forced to convert older vessels into floating storage units, a development that signals the blockade is becoming operational.
Some tankers have already started using longer and more expensive alternative routes to deliver oil to China, officials said, specifically to avoid the risk of a US maritime ban.
Iran’s “Shadow Fleet” is looking for ways around the blockade
Not all Iranian vessels remained idle. Samir Madani, co-founder of TankerTrackers.com, pointed to the movement of a large Iranian oil tanker named “BIG” as an example of how Tehran’s fleet was trying to circumvent the US ban. The vessel skirted the coasts of Pakistan and India before reaching the relative safety of the Strait of Malacca in Malaysia, where oil is usually transferred to other ships bound for China.
Madani warned that the current stalemate may not last indefinitely. As tankers pile up near Pakistani waters, Iran may eventually attempt a coordinated mass penetration.
“I think the Iranians will wait for an opportunity to launch the ‘Great Escape’ overnight once they build yet another storage facility near the border with Pakistan,” Axios said.
Analysts warn that Iran could run out of oil reserves within weeks
The strategic goal of the US blockade is to push Iran beyond its storage capacity, which would force the shutdown of oil wells and deal a deeper blow to the country’s economy. According to one analyst, that limit may be approaching faster than Tehran can handle.
“They probably have a few weeks, maybe up to a month, before they run out of stock,” Gregory Brew, an analyst at Eurasia Group, told Axios.
Once the storage reaches capacity, Iran will face a stark choice between halting oil production or seeking a negotiated exit from the conflict, making the blockade the single most consistent lever in Washington’s pressure campaign against Tehran.
Both sides use blockades as economic weapons
The blockade of the Gulf of Oman exists in the wider context of a reciprocal economic war. Iran moved first, blocking the Strait of Hormuz to halt international shipping and disrupt global oil flows. The US responded by imposing its own blockade on the western entrance to the Gulf of Oman, effectively closing Iran’s primary export route.
The result is the Cold War phase of the conflict, in which both sides seek to inflict maximum economic damage without provoking direct military escalation.
The Pentagon called the blockade a “devastating blow” to Iran’s finances
In an official statement, Acting Pentagon Press Secretary Joel Valdez offered an unequivocal assessment of the blockade’s impact.
“We are dealing a devastating blow to the Iranian regime’s ability to finance terrorism and regional destabilization,” Valdez said. “Our armed forces in the region will continue to maintain this unrelenting pressure.”
Valdez added that the blockade “is operating in full force and is having the decisive impact we intended.”
The Pentagon’s decision to disclose the $4.8 billion figure reflects a deliberate effort to demonstrate the blockade’s effectiveness at a time when diplomatic talks with Iran remain fragile. For Trump, the economic squeeze represents his most significant leverage in any eventual negotiations to end the conflict.
