The United States Army has announced that it will begin blocking all maritime traffic entering and exiting Iranian ports this Monday starting at 10:00 hours in Spain. The announcement comes after Donald Trump stated that he will block the Strait of Hormuz and accused Iran of maintaining its "nuclear ambitions" by hindering reaching an agreement in the peace talks in Pakistan.
And the consequences are already being felt in the price of oil. The price of Brent, the European reference, rose by nearly 7.3% early this Monday and surged back above $100 per barrel compared to the $72 it was trading at before the start of the war in the Middle East on February 28.
Additionally, the President of the United States and his advisors are reportedly considering resuming "limited" bombings in the Persian country to break the negotiation deadlock, according to The Wall Street Journal.
Iran warns that if Iranian ports are threatened, there will be no security for anyone
The Iranian Armed Forces warned this Monday that the "security of the ports in the Persian Gulf and the Sea of Oman is for everyone or for no one," hours before the US blockade of the Strait of Hormuz comes into effect.
"If the security of the ports of the Islamic Republic of Iran in the Persian Gulf and the Sea of Oman is threatened, no port in these waters will be safe," said the spokesman for the Central Headquarters of Jatam al Anbiya, Lieutenant Colonel Ebrahim Zolfaqari, in statements reported by state media.
Zolfaqari reiterated that Tehran will continue to apply "firmly a permanent mechanism for controlling the Strait of Hormuz" under which they will not allow the passage of "vessels linked to the enemy." "Other vessels, respecting the rules established by the Iranian armed forces, will still be able to cross the strait," he assured, as reported by Efe.
Pakistan asserts that the dialogue between the US and Iran continues despite a temporary halt
Indirect talks between the United States and Iran are progressing in the "right direction" despite a temporary standstill due to differences in the final negotiation points, Pakistani government sources stated on Monday. "The discussions have not ended. We can say they are at a standstill, but not concluded. Both parties have agreed on most of the points presented by each side, with only one or two remaining. The process is moving in the right direction," the source said on condition of anonymity. Iran's ambassador to Pakistan, Reza Amiri Moghadam, stated that the Islamabad process was not an event but the foundation of an "open diplomatic process" that could pave the way for a common end. "The Islamabad Talks are not an event but a process. These talks laid the groundwork for a diplomatic process that, if trust and willingness are strengthened, can create a sustainable framework for the interests of all parties," he wrote late Sunday, as reported by Efe.
Losses in stock markets and oil above $100
The failure of negotiations between Iran and the US in Islamabad, Pakistan, to end the open war in the Middle East has once again unsettled the markets. President Donald Trump's threats to block the entire Strait of Hormuz and resume selective bombings on the Islamic Republic have returned investors to a familiar scenario. The price of Brent oil, the European benchmark, has reached $100 per barrel with an increase of nearly 7%. The American West Texas Intermediate is also trading above the European barrel price, a rare occurrence that triggered the current crisis in the Middle East, with increases of over 7%, surpassing $103. European gas prices are also affected by the volatility at the start of the week, soaring by 8%, returning to around 47 euros per MWh and leaving behind five-week lows amid the presumed de-escalation. At its lowest point in the last two months, it exceeded 60 euros.
Iran warns that ships approaching the Strait of Hormuz violate the ceasefire
Iran's Revolutionary Guard warned early Monday that any military vessel approaching the Strait of Hormuz violates the ceasefire, following the US Central Command's announcement to block all maritime traffic to Iranian ports. "Iran's Revolutionary Guard warns that any military vessel approaching the Strait of Hormuz violates the ceasefire," Al Jazeera reported on social media, according to Efe.
Araqchi states that Iran and the US were "one step" away from signing an agreement in Pakistan
Iran's Foreign Minister, Abbas Araqchi, stated on Monday that Iran and the United States were "one step" away from signing an agreement in negotiations in Pakistan, which was not achieved due to "maximalist demands" and "rule changes" by Washington. "When we were one step away from the 'Islamabad Memorandum of Understanding,' we encountered maximalism, rule changes, and a deadlock," said the Iranian diplomat in X. Araqchi recalled that these were the highest-level negotiations with the US since the founding of the Islamic Republic in 1979, and his country "engaged in good faith to end the war." "Nothing has been learned," he stated, emphasizing that "goodwill begets goodwill," while "enmity begets enmity," as reported by Efe.
Trump calls Pope Leon XIV "weak on crime": "I don't want a Pope who criticizes the US president"
Donald Trump strongly criticized Pope Leon XIV in a social media post on Sunday night, stating that the American pontiff is "weak on crime and terrible on foreign policy" and urging him to "stop pleasing the radical left." The Republican president used a lengthy post on Truth Social to criticize Leon XIV, continuing to do so after disembarking from the plane, making comments on the tarmac to reporters. "I'm not a big fan of Pope Leon. He is a very liberal person and a man who does not believe in stopping crime," Trump said at Joint Base Andrews in Maryland. Trump accused the pontiff of "playing with a country that wants a nuclear weapon" (referring to Iran).