U.S. President Donald Trump has signaled a prolonged military standoff with Tehran, stating on Wednesday, April 29, that the current naval blockade against Iranian ports could remain in place for months.
The aggressive stance triggered a massive spike in energy markets, with oil prices surging to their highest levels since the initial weeks of the Ukraine war in 2022.
During a meeting with top oil executives on Tuesday, Trump argued that the blockade—which has effectively paralyzed Iran’s maritime trade—is a more surgical and efficient tool than traditional kinetic warfare.
“The blockade is somewhat more effective than the bombing. They are choking like a stuffed pig. And it is going to be worse for them. They can’t have a nuclear weapon,” Trump told Axios in an interview.
The announcement came as Brent oil futures skyrocketed by 7.6%, reaching $119.69 per barrel. The market reaction reflects deep-seated anxieties over the stability of the Strait of Hormuz, a critical bottleneck through which 20% of the world’s petroleum passes.
Iran has responded to the blockade by threatening to fully close the waterway, claiming the U.S. action violates the fragile ceasefire established following the outbreak of hostilities earlier this year.
Diplomatic tensions were further underscored by a high-stakes, 90-minute phone call between Trump and Russian President Vladimir Putin. While Trump characterized the discussion as “friendly and businesslike,” the Kremlin warned of “damaging consequences” should the U.S. and Israel intensify their military pressure.
Putin reportedly offered to assist in resolving the nuclear dispute by taking enriched uranium out of Iran, a proposal Trump did not dismiss but largely sidelined in favor of discussing a potential ceasefire in Ukraine.
A White House official, speaking on condition of anonymity, noted that Trump’s strategy is designed to minimize the domestic economic impact while maximizing the pressure on Tehran’s leadership.
“They want to settle. They don’t want me to keep the blockade. I don’t want to [lift the blockade], because I don’t want them to have a nuclear weapon,” Trump reiterated.
The U.S. Central Command (CENTCOM) confirmed that more than 10,000 personnel and a dozen warships are currently enforcing the blockade, which began on April 13.
While the U.S. maintains the operation targets only Iranian ports and not international transit, the resulting volatility has already cost the global economy billions in rising fuel and commodity costs.