Trump banks on U.S. naval blockade to choke Iran’s economy as oil slips through Hormuz

President Donald Trump, after shelving a full‑scale war on Iran, is banking on the U.S. naval blockade to squeeze Tehran’s faltering economy harder than any missile strike. In a Sunday Axios interview he said the United States is “low‑keying” its pressure and “semi‑negotiating” with Tehran, hoping that spiralling inflation and a cash‑starved military will force concessions.

U.S. naval blockade as economic lever

Trump warned,

“We are just watching Iran with its huge inflation and the fact they have no money,”

emphasizing that the regime cannot pay its troops. Analysts note that while oil prices have dipped, about ↓ 8 million barrels slip nightly through a southern corridor of the Strait of Hormuz under U.S. naval oversight, keeping global markets supplied. Iran’s Supreme National Security Council has demanded the blockade’s end, sanctions relief, frozen‑asset unfreeze and a pull‑out of U.S. forces, but hardliners in the IRGC reject any dialogue. Moderate officials, including Deputy Foreign Minister Kazem Gharibabadi, argue the economy is “in very bad shape” and urge a deal, a sentiment echoed in recent Reuters reports. Sources told the Bloomberg newsroom that U.S. munitions stocks are dwindling, limiting further kinetic options. The lingering pandemic‑era supply chain strains add pressure on oil inventories, raising the specter of a price surge if the blockade tightens further. Both sides trade accusations of bad faith, but Trump remains optimistic, likening the stalemate to “a chess game” that “always works out.”