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Trump says US will maintain blockade of Iranian ports until deal reached
The naval blockade has redirected over 100 commercial vessels and cost Iran billions in oil revenue, while the US Treasury freezes $344 million in Iranian-linked crypto assets.
President Trump has committed to keeping the US naval blockade of Iranian ports in place until Iran agrees to a comprehensive peace deal.
The blockade, which US Central Command formally enacted on April 13, 2026, targets vessels navigating to and from Iranian ports. It came after peace negotiations in Islamabad collapsed.
The economic toll so far
Trump has claimed the blockade costs Iran roughly $500 million per day. The Department of Defense’s own estimate puts cumulative oil revenue losses at $4.8 billion by early May 2026.
More than 100 commercial vessels had been redirected as of late May 2026.
The blockade was designed to exert maximum economic pressure following initial military strikes by the US and Israel on February 28, 2026.
The crypto front
The US Treasury has frozen approximately $344 million in digital assets tied to crypto wallets associated with Tether.
Iran is estimated to hold between $7.7 billion and $7.8 billion in crypto assets.
Bitcoin prices dropped from above $73,000 to around $71,000 in response to blockade-related news.
Negotiations and what investors should watch
Current negotiations in June 2026 could potentially lead to an easing of the blockade, but that depends entirely on whether the parties can reach the kind of comprehensive deal Trump is demanding.
Traders should also watch Iran’s estimated $7.7 to $7.8 billion crypto holdings closely. If Tehran begins liquidating digital assets to fund operations or circumvent the blockade, those sell-offs could create sudden downward pressure on multiple tokens.