US naval blockade has cost Iran $4.8B in oil revenue
What's the story
The US blockade in the Gulf of Oman and nearby maritime routes has reportedly cost Iran nearly $4.8 billion in oil revenue, Axios reported citing Pentagon estimates. The Department of Defense assessment suggests that Iran has lost nearly $5 billion in oil revenue due to disruptions linked to US enforcement operations, targeting sanctioned maritime trade and energy exports.
Strategic intent
US operation aims to keep economic pressure on Tehran
Sean Parnell, Assistant to the Secretary of War for Public Affairs and Chief Pentagon Spokesperson, highlighted that the US operation is designed to keep up economic pressure on Tehran. Acting Pentagon Press Secretary Joel Valdez said, "We are inflicting a devastating blow to the Iranian regime's ability to fund terrorism and regional destabilization." He added that US forces in the region will continue this relentless pressure.
Leadership critique
We have complete control over Strait of Hormuz: Bessent
US Treasury Secretary Scott Bessent has also slammed the Iranian leadership, calling them "rats in a sewer pipe." He said those in Tehran are unaware of the ground realities and that the international community has turned against them. Bessent asserted that the US has complete control over the Strait of Hormuz, a critical global oil checkpoint, and will continue its blockade until the pre-February 27 freedom of navigation is achieved.
Diplomatic response
Iranian embassy calls US Treasury Secretary 'idiot'
In response to Bessent's remarks, the Iranian Embassy in South Africa said, "Everyone knows that you and your pedophile boss lost the war, and those pathetic noises you make come from pain, not victory. You lost both on the battlefield and in cyberspace. Idiot." The US had imposed a naval blockade on Iran on April 13 after Islamabad talks failed to end the ongoing war.
Blockade impact
Over 50 million barrels of Iranian crude stranded
Since the US naval blockade began on April 13, 31 tankers carrying 53 million barrels of Iranian crude have been stranded in the Gulf of Oman. Pentagon officials told Axios that the blockade has diverted over 40 vessels trying to pass with Iranian oil and other cargo. Two ships have even been seized outright as part of these enforcement operations.