The Pentagon has calculated that the U.S. naval blockade in the Gulf of Oman has deprived Iran of roughly $4.8 billion in oil revenue, according to a Defense Department official who spoke to The Hill on Friday. The figure underscores the economic toll of the operation launched more than two weeks ago as part of President Trump's campaign to squeeze Tehran.
The blockade, initiated on April 13, is a centerpiece of the administration's strategy to pressure Iran amid stalled negotiations. Acting Pentagon press secretary Joel Valdez declared the operation is achieving its intended effect, stating, "We are inflicting a devastating blow to the Iranian regime’s ability to fund terrorism and regional destabilization." Valdez emphasized that U.S. forces will maintain the pressure.
U.S. Central Command reported Friday that American forces have intercepted 45 commercial vessels, forcing them to turn back or return to port since the blockade began. The moves are part of a broader standoff in which Iran has also choked shipping through the Strait of Hormuz, creating a dual blockade that has disrupted global oil flows.
The $4.8 billion estimate, first reported by Axios, highlights the financial strain on Iran, which relies heavily on oil exports. The Pentagon's assessment comes as the White House weighs military options against the Islamic Republic. President Trump was briefed Thursday by CENTCOM commander Adm. Brad Cooper and Joint Chiefs Chairman Gen. Dan Caine on potential courses of action.
Trump signaled a preference for a negotiated settlement, telling reporters Friday, "There are options. Do we want to go and just blast the hell out of them and finish them forever or do we want to try and make a deal?" He added that he favors a deal, though he has demanded Iran 'cry uncle' to end its Strait blockade, rejecting offers for nuclear talks.
Meanwhile, the administration faces scrutiny over the broader cost of the conflict. Defense Secretary Pete Hegseth has battled Senate Democrats over the war's price tag, while a separate Pentagon estimate put the total cost at $25 billion, with munitions accounting for the bulk of spending. Some lawmakers, citing the blockade's impact, argue the true figure is higher.
The standoff has also drawn international attention, with Iran's Supreme Leader Ayatollah Khamenei vowing to defend the country's nuclear and missile programs as sanctions bite. The Pentagon's blockade estimate is likely to fuel debate over whether military pressure or diplomacy will ultimately resolve the crisis.
