US Vice President JD Vance has accused Iran of engaging in 'economic terrorism' by blocking maritime traffic through the Strait of Hormuz. Speaking to Fox News, Mr Vance said that if Iran continued such actions, the US would enforce a principle that 'no Iranian ships are getting out either'.
His remarks came as the US military began a blockade of Iranian ports, following a breakdown of weekend talks in Islamabad. Despite the lack of a deal, a US official indicated continued engagement, and Pakistan's Prime Minister Shehbaz Sharif confirmed efforts to resolve the conflict were ongoing.
US President Donald Trump said Iran had been in touch on Monday and wanted a deal, but he would not sanction any agreement allowing Tehran to possess a nuclear weapon. Iran's President Masoud Pezeshkian blamed 'excessive' US demands for the failure, and stated that Iran would continue negotiations only within international law.
The closure of the Strait of Hormuz, through which nearly a fifth of the world's oil and gas supplies previously flowed, has had widespread economic fallout. Oil benchmark prices fell below $100 on Tuesday amid hopes for dialogue. Meanwhile, the first vessel to attempt passage after the US blockade, the Chinese-owned tanker Rich Starry, was sanctioned by the US for dealing with Iran.
NATO allies including Britain and France have declined to participate in the US blockade, stressing the need to reopen the waterway. Iran has threatened to retaliate against naval ships and Gulf neighbours' ports, while the US has warned it would eliminate any Iranian fast-attack ships approaching the blockade.
