US Blockade Costs Iran $4.8 Billion in Oil Revenue

May 2, 2026

48 min

May 2, 2026 05:30

US claims Iran loses nearly $4.8b amid Gulf blockade

## US Blockade in Strait of Hormuz

The United States has implemented a blockade in the Strait of Hormuz, which has reportedly cost Iran approximately $4.8 billion in oil revenue. This action is part of a broader strategy to exert financial pressure on Tehran by disrupting its oil exports.

## Pentagon's Assessment

According to a Pentagon report, the blockade has significantly impacted Iran's oil income. The US aims to maintain economic pressure on Iran by targeting its sanctioned maritime trade and energy exports.

## Official Statements

Sean Parnell, Assistant to the Secretary of War for Public Affairs, emphasized the effectiveness of the blockade, stating it delivers the intended impact. Treasury Secretary Scott Bessent criticized Iranian leadership, asserting that the international community opposes Tehran's actions.

## Iranian Response

In response, the Iranian Embassy in South Africa dismissed US claims, suggesting that the US has not succeeded in its objectives. The blockade follows the breakdown of talks aimed at resolving regional conflicts.

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