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international waters to enforce a blockade of its own, said it had boarded another tanker, the Majestic, in the Indian Ocean yesterday, an apparent reference to a supertanker last reported off the coast of Sri Lanka carrying 2 million barrels of crude.

Amid diplomatic efforts to restart the failed talks, a senior Iranian source told Reuters that Iran could consider attending a meeting in Pakistan, but only if the US blockade is lifted and seized Iranian ships are released.

In an early morning social media post, U.S. President Donald Trump said it was Washington that was in “total control” of the strait, which he described as “’Sealed up Tight,’ until such time as Iran is able to make a DEAL!!!”.

The US blockade has not, however, halted Iran’s own use of the strait, according to data analytics firm Vortexa, which said about 10.7 million barrels of Iranian crude exports had crossed it and left the area blockaded by the US Navy between April 13 and 21.

“A complete ceasefire only has meaning if it is not violated through a naval blockade,” said Iran’s parliamentary speaker Mohammad Bagher Ghalibaf, who led Tehran’s delegation at the first round of talks. “Reopening the Strait of Hormuz is not possible amid a blatant violation of the ceasefire.”

Ghalibaf’s deputy, Hamidrez Hajibabei said Iran has received its first revenue from tolls it is imposing on ships seeking to cross Hormuz, a route that in peacetime accounts for a fifth of the world’s oil and gas flows, and other vital commodities. However, he did not disclose any information regarding the nationality of the ship or ships.

Analysts said Tehran, in particular its hardline leaders associated with the Islamic Revolutionary Guards Corps (IRGC), believes that Iran’s blockade gives it sufficient economic leverage to force Washington to back down on its main demands in eventual peace talks.

Meanwhile, the global economy is facing ever more tangible strains from the energy shock as factories grapple with soaring production costs and activity weakens even in services sectors, major surveys showed on Thursday.

Trump also said he had ordered the Navy to “shoot and kill” Iranian boats laying mines in the strait, and step up demining activity, though he did not mention other means Iran has used to block shipping, such as speedboats, missiles and drones.

Iran’s judiciary chief Gholamhossein Mohseni-Ejei said the merchant vessels Iran had seized had “faced the law”, while Iranian speedboats and marine drones were sheltering in sea caves off an island, keeping the US Navy from approaching.

Trump cancelled threats to restart attacks on Iran in the ceasefire’s final hours on Tuesday, but refuses to lift the naval blockade. There has been no formal extension of the ceasefire, and no plans have been announced for further talks.

Pakistan, which hosted talks this month and had been preparing for a second round before it was called off on Tuesday, was still in touch with both sides, a Pakistani government source said. Iranian officials were still declining to commit to attending over the US blockade, the source added.

Meanwhile, in the latest wartime shakeup at the Pentagon, John Phelan, a financier appointed by Trump as navy secretary, was ousted late on Wednesday. Two sources told Reuters he had been fired over disagreements around shipbuilding and bad relations with officials, including Defense Secretary Pete Hegseth.

Experts say a US naval blockade of Iranian ports is likely to squeeze Iran’s oil output in the coming weeks, but claims it will throw the Islamic republic into economic free fall remain premature.

They said the US blockade is likely to fail at least in the short term.

“If the blockade lasts for more than two or three months, it can cause more damage” to Iran, economic analyst and professor at Shahid Beheshti University in Tehran Saeed Laylaz told AFP.

“If Iran suffers any damage, the damage to the countries in the southern Persian Gulf will definitely be greater,” he added.

Arne Lohmann Rasmussen, chief analyst at Global Risk Management said Iran “was expected to run out of storage capacity within approximately one month, but it may already be forced to shut in part of its oil production within a couple of weeks”.

Jamie Ingram, managing editor of Middle East Economic Survey (MEES), said the disruptions will hurt Iran.

“But Iran has also proven its ability to withstand huge oil-revenue declines during previous rounds of sanctions. I would not underestimate the regime’s resilience in this regard,” he added.