Daijiworld Media Network - Tehran/Washington
Tehran/Washington, May 2: Iran is facing growing economic and military strain as a United States-led naval blockade in the Strait of Hormuz and the Gulf of Oman continues to restrict its vital oil exports, with reported losses estimated at around $4.8 billion, according to media reports.
The blockade, reportedly imposed on April 13 following the breakdown of diplomatic efforts, has significantly disrupted Iran’s ability to transport oil through one of the world’s busiest energy corridors. US officials say the move is intended to maintain economic pressure on Tehran and limit its capacity to fund regional operations.
A spokesperson linked to the Pentagon stated that the operation is having a “decisive impact” on Iran’s financial networks. The restrictions have further strained an already fragile economy, with reports indicating shortages of foreign currency and pressure on essential goods supply.
Analysts suggest the economic stress is also exposing divisions within Iran’s leadership, with some factions advocating a stronger response while others favour renewed negotiations to ease tensions.
US Treasury Secretary Scott Bessent said Washington maintains “complete control” over the strategic waterway and indicated that the blockade would continue until maritime conditions align with what the US describes as normal freedom of navigation. His remarks drew sharp criticism from Iranian officials, reflecting escalating rhetoric between the two sides.
Amid the ongoing tensions, Iran also reported a separate internal incident in Zanjan, where 14 members of the Islamic Revolutionary Guard Corps were killed while attempting to defuse unexploded ordnance from earlier strikes. The incident highlights the continuing risks linked to the conflict beyond active combat zones.
While Donald Trump has indicated that direct hostilities have ceased, the United States continues to tighten sanctions and maintain a strong military presence in the region. Iran, on its part, has signalled willingness for dialogue but maintains it will not accept negotiations under pressure.