Bessent: "Undermining Iran’s Ability to Generate Funds"
Iran: "Will Lift Blockade by Force If Necessary"

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Shinwha Yonhap News

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U.S. President Donald Trump has effectively extended the ceasefire with Iran indefinitely and announced that the existing maritime blockade will remain in place, prompting strong backlash from Iran. As the standoff between the two sides over the Strait is expected to continue for an extended period, concerns are mounting over the potential impact on the global economy.

Bessent: "Maximum Pressure Through 'Economic Fury' Policy"

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Reuters Yonhap News

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On April 21 (local time), U.S. Treasury Secretary Scott Bessent stated on the social media platform X (formerly Twitter), "As President Trump has made clear, the U.S. Navy will continue the blockade on Iranian ports," adding, "Restricting Iran's maritime trade directly targets a major source of revenue for the regime." Earlier that day, President Trump had announced via his own social media platform, Truth Social, the indefinite extension of the ceasefire with Iran, while also stating that the maritime blockade against Iran would remain in effect.


Secretary Bessent said, "The U.S. Treasury will continue to apply maximum pressure through the 'Economic Fury' policy to systematically weaken Iran's ability to generate, move, and repatriate funds," warning, "Any individuals or vessels supporting these flows through clandestine transactions or financial networks risk becoming targets of U.S. sanctions."


Separately from maintaining the maritime blockade, the U.S. Treasury also imposed sanctions on 14 individuals and entities on the same day, citing their involvement in procuring weapons and weapons supply chains for Iran. The sanctioned parties include executives from electronics companies supplying drone parts to the Islamic Revolutionary Guard Corps (IRGC), individuals involved with companies procuring ballistic missile propulsion systems, and executives and employees of Mahan Air's parent company in Iran.

Iran: "Will Respond Militarily to U.S. Maritime Blockade If Necessary"

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The U.S. actions have sparked backlash within Iran. Tasnim News Agency, affiliated with the IRGC, stated, "The continued U.S. maritime blockade is a hostile act," warning, "As long as the blockade persists, Iran will not keep the Strait of Hormuz open, and, if necessary, will break the blockade by force."


Iranian Foreign Minister Abbas Araghchi also wrote on X, "Blockading Iran's ports constitutes an act of war and, therefore, violates the ceasefire agreement," and further criticized, "Attacking merchant ships and taking crew members hostage is an even graver violation than blockading ports." This comment appears to criticize the U.S. military's seizure of the Iranian-flagged merchant vessel Tuskaho following a shelling incident during an attempted blockade run.


Iran has also requested United Nations (UN) intervention to lift the U.S. counter-blockade. According to Iran International, Amir Saeid Iravani, Iran's ambassador to the UN, sent a letter to UN Secretary-General Antonio Guterres on the same day, stating, "The U.S. measure constitutes a clear and serious violation of the ceasefire between our two nations," and criticized, "The seizure of vessels amounts to an act of aggression and poses a grave threat to regional and international peace." He further urged, "The UN Security Council must condemn this matter and demand that the U.S. immediately release the vessels, crew members, and their families."

Indefinite Ceasefire and Blockade Raise Concerns Over Prolonged Negotiation Deadlock

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There are growing projections that these measures will increase uncertainty in the global oil supply. According to Bloomberg News, "The number of vessels passing through the Strait of Hormuz has plummeted from an average of 135 per day before the war to fewer than 10 per day now, resulting in mounting economic damage," and reported, "Even if the U.S. military reopens the Strait by force, the U.S. Navy does not have the capacity in the Middle East to protect over 100 ships per day. Furthermore, if a large number of warships are deployed to secure the waterway, it could end up blocking the merchant ships' passage instead."



Some observers have pointed out that President Trump's announcement of an indefinite ceasefire extension could cause negotiations between the two sides to remain deadlocked for a prolonged period. Citing sources familiar with the Iran negotiations, CNN reported, "A ceasefire extension with no end date could ease pressure on Iran and allow it to drag out the talks," adding, "President Trump's aides have also warned of this possibility in closed-door meetings."


This content was produced with the assistance of AI translation services.

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