Strait of hormuz

Nearly 1500 vessels carrying roughly 750 million barrels of crude oil have transited the strait in the past months, Cooper said, adding that this was done with the protection of US forces.

Rezaee also said reports about a potential plot to assassinate US President Donald Trump's youngest son are a lie in the interview.

Although 14 to 15 million barrels of oil passed through Hormuz per day before the war, an expert told the Post that it was entirely possible to manage without much of that supply.

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Ratcliffe also discussed Iran while in Russia, telling intelligence officials there that additional sanctions would be implemented by the US if the Strait of Hormuz was not opened.

Saudi Arabia, like many countries in the region, has had its economy severely impacted by the war. The Saudi Finance Ministry is considering offering a cheaper insurance option to revive shipping.

A source familiar with the matter told The Jerusalem Post that suspected disagreements between the two countries remain.

Despite the apparent success of the US’s blockade and sanctions campaign, Iranian officials have repeatedly expressed that they would not falter in maintaining control over the Strait of Hormuz.

"Under President Trump, the Treasury Department will continue to cut off every economic lifeline sustaining this regime, until Tehran is left completely alone," Treasury Secretary Scott Bessent said.

Operation Economic Outcast was announced on Monday by US Treasury Secretary Scott Bessent, following earlier threats of an "economic D-Day" against the regime.