US military to begin full naval blockade of Iran today
What's the story
The United States Central Command (CENTCOM) has announced a blockade on all maritime traffic to and from Iranian ports. The blockade will be implemented from 10:00am ET (2:00pm GMT) on April 13. President Donald Trump had earlier announced that the US Navy would start blockading the Strait of Hormuz, which is a critical chokepoint for global oil shipments.
Blockade details
CENTCOM clarifies details of the blockade
In a statement on social media, CENTCOM clarified that the blockade would be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas. This includes all Iranian ports on the Arabian Gulf and the Gulf of Oman. However, CENTCOM forces will not impede freedom of navigation for vessels transiting through the Strait of Hormuz to non-Iranian ports.
Market impact
Global markets affected by announcement
The announcement of the blockade has already affected global markets. US crude oil prices surged by 8% to $104.24 a barrel, while Brent crude rose by 7% to $102.29 a barrel. The price of Brent crude had been volatile since the start of the Iran war, rising from around $70 per barrel before the conflict in late February and peaking above $119 at times during recent peace talks.
Notice issuance
Formal notice to be issued to commercial mariners
CENTCOM has also said that it will issue a formal notice to commercial mariners before the blockade starts. This is likely to further impact global trade and shipping routes through the region. The move comes amid heightened tensions between the US and Iran, with President Trump saying he doesn't care if Tehran returns to negotiations after talks in Pakistan failed.
Iran's statement
Deal was 'inches away'
Earlier, Iranian Foreign Minister Abbas Araghchi stated the two parties were "inches away" from reaching a deal, but Iran was met with "maximalism, shifting goalposts, and blockade," the BBC stated. Mohammad-Bagher Ghalibaf, Iran's parliamentary speaker, earlier wrote on X: "Enjoy the current pump figures. With the so-called 'blockade', Soon you'll be nostalgic for $4-$5 gas." In a statement carried by Iranian outlets, Ghalibaf said Iran will not "surrender under threats."