U.S. President Donald Trump said Iran is losing approximately $500 million per day due to restrictions on the Strait of Hormuz, claiming the Islamic Republic is seeking to reopen the strategic waterway as financial pressure mounts.
“Iran is collapsing financially! They want the Strait of Hormuz opened immediately- Starving for cash! Losing 500 Million Dollars a day. Military and Police complaining that they are not getting paid. SOS!!!” Trump posted on Truth Social on Wednesday.
“Iran doesn’t want the Strait of Hormuz closed, they want it open so they can make $500 Million Dollars a day,” Trump wrote in an earlier post, adding that Tehran is “starving for cash” and facing internal strain. “They only say they want it closed because I have it totally BLOCKADED (CLOSED!), so they merely want to “save face.” People approached me four days ago, saying, ‘Sir, Iran wants to open up the Strait, immediately.’ But if we do that, there can never be a Deal with Iran, unless we blow up the rest of their Country, their leaders included!”
The Strait of Hormuz is one of the world’s most critical maritime chokepoints, through which a significant portion of global oil shipments pass, meaning disruptions can significantly affect global energy markets.
Trump announced an extension of the ceasefire with Iran on Tuesday.
“Based on the fact that the government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal,” Trump stated.
The president said he has directed the military to continue the blockade of the Strait of Hormuz, and has extended the ceasefire “until such time as their proposal is submitted, and discussions are concluded, one way or the other.”
The United States and Israel launched coordinated strikes against Iranian nuclear and military infrastructure on Feb. 28.
