US Says Ports Blockade Has Cost Iran $4.8 Billion, Redirected 48 Ships
The U.S. has enforced a blockade on Iranian ports, redirecting 48 ships and costing Iran an estimated $4.8 billion in lost oil revenue, according to Pentagon officials. President Donald Trump described the operation as 'very profitable' and compared the Navy's actions to those of pirates. Talks between the U.S. and Iran have stalled, with Iran warning of regional retaliation amid reports of potential U.S. military action.
- ▪The U.S. blockade has redirected 48 vessels back to port to ensure compliance, according to U.S. Central Command.
- ▪The blockade has cost Iran approximately $4.8 billion in lost oil revenue, a Pentagon official told The Hill.
- ▪Acting Pentagon Press Secretary Joel Valdez stated the operation is inflicting a devastating blow to Iran’s ability to fund terrorism and regional destabilization.
- ▪President Trump said he was not satisfied with Iran's latest negotiation proposal due to internal divisions and unacceptable terms.
- ▪Iran has warned of regionwide retaliation in response to potential U.S. military strikes aimed at opening the Strait of Hormuz.
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By Peter AitkenPolitics Weekend EditorShareNewsweek is a Trust Project memberSee more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.The U.S. blockade of Iranian ports has proven "very profitable," President Donald Trump said Friday at his rally in Florida, but new reports have detailed just how hard Iran's finances have been hit as a result of the three-week operation. “We … land on top of it and we took over the ship. We took over the cargo, took over the oil. It’s a very profitable business,” Trump told his supporters, adding that the U.S. Navy is acting "like pirates" to enforce the blockade.In that time, U.S. forces have redirected 48 vessels back to port "to ensure compliance with the blockade," U.S.
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