Iran is facing mounting economic and military strain as a United States naval blockade around the Strait of Hormuz and Gulf of Oman continues to choke off its critical oil exports, with Pentagon-linked estimates putting losses at roughly $4.8 billion, a report by Axios said. The disruption has intensified pressure on Tehran’s already fragile economy, while exposing cracks in its long-standing reliance on covert shipments and regional maritime leverage to bypass sanctions.According to reports, the blockade, imposed on April 13 after the collapse of diplomatic efforts, has sharply curtailed Iran’s ability to move oil through one of the world’s most vital shipping lanes. US officials say the operation is designed to sustain economic pressure and weaken Tehran’s ability to fund regional activities. Pentagon spokesperson Sean Parnell cited remarks from press secretary Joel Valdez, who said the blockade was “operating with full force” and delivering a “decisive impact” on Iran’s financial networks.The economic squeeze appears to be fueling divisions within Iran’s leadership. Analysts suggest some factions favor escalation in response to US actions, while others are pushing for renewed negotiations to ease the standoff. The strain is also being felt domestically, with reports pointing to shortages of hard currency and rationing of essential goods.US Treasury Secretary Scott Bessant struck a combative tone, claiming Washington had “complete control” over the Strait and signaling the blockade would continue until maritime conditions return to what he described as normal “freedom of navigation”. His remarks drew a sharp response from Iranian officials, underscoring the increasingly hostile rhetoric between both sides.Amid the economic pressure, Iran also suffered a deadly internal setback. Fourteen members of the Islamic Revolutionary Guard Corps were killed in the northwestern province of Zanjan while attempting to defuse unexploded ordnance left behind from earlier strikes, according to local media. The incident highlights the lingering dangers of the conflict even away from active battle zones.The broader regional picture remains volatile. While US President Donald Trump has told lawmakers that direct hostilities with Iran have ceased, Washington has continued to tighten sanctions and reinforce its military posture in the region. Tehran, meanwhile, has signaled openness to talks but insists it will not accept terms imposed under pressure.
