US President Donald Trump claimed on his Truth Social platform that Iran is 'collapsing financially' and losing $500 million a day due to Washington's naval blockade of Iranian ports. He wrote that Iran 'wants the Strait of Hormuz opened immediately' and is 'starving for cash,' alleging that military and police are complaining about unpaid salaries.
The US blockade began at 14:00 GMT on April 13. Since then, the US has fired on and seized an Iranian-flagged tanker near the Strait of Hormuz and redirected ships carrying cargo to or from Iran. Iran's armed forces called this 'an illegal act' amounting to 'piracy.'
In response, Iran closed the Strait of Hormuz to all foreign shipping and captured several foreign-flagged vessels. First Vice President Mohammad Reza Aref stated on April 19 that 'the security of the Strait of Hormuz is not free,' implying that Iran expects concessions for allowing passage.
Parliamentary speaker Mohammad Bagher Ghalibaf said a full ceasefire is conditional on lifting the naval blockade. Analysts note the blockade is hurting Iran but believe the country has the economic and political will to endure.
Iran exports 80% of its oil through the Strait of Hormuz, averaging 1.84 million barrels per day in March. Despite the blockade, Iran has 160-170 million barrels of oil afloat on tankers, which could sustain revenue until August, according to analysts.
Iran is also generating revenue from tolls imposed on vessels passing through the strait, with some ships reportedly paying up to $2 million. Two vessels have paid in Chinese yuan, indicating Beijing's involvement.
Iranian officials emphasize national unity. President Masoud Pezeshkian stated, 'In Iran, there are no radicals or moderates. We are all Iranians and revolutionaries.' Foreign Minister Abbas Araghchi dismissed claims of infighting, saying state institutions act with 'unity, purpose, and discipline.'
The US blockade faces domestic political challenges, as Trump must seek congressional approval by May 1. Analysts suggest Iran is playing a 'longer game,' while Trump may show impatience. China has deemed the blockade of its trade with Iran unacceptable, adding pressure on Washington.
Source: www.aljazeera.com