The United States Department of Defense estimates that Iran has lost nearly 4.8 billion dollars in oil revenue due to a naval blockade of the Strait of Hormuz that began on April 13. More than 40 vessels carrying oil and other restricted goods have been redirected, two ships have been seized, and 31 tankers holding about 53 million barrels of Iranian oil remain stranded in the Gulf of Oman.

Officials say Iran is rapidly running out of storage capacity for its oil, with space potentially exhausted within 15 to 60 days. The country has been relying on onshore facilities and floating storage, including large supertankers designed to carry roughly two million barrels each. One official said the blockade is effectively halting nearly all economic trade in and out of Iran.

President Donald Trump described the naval operations as being 'sort of like pirates' while defending the seizure of ships and cargo. He said the actions were profitable and necessary, as United States forces continue intercepting Iranian-linked vessels in regional waters. Observers suggest that mounting economic pressure could influence the prospects for a future agreement between Washington and Tehran.