May 2, 2026 12:51 PM
US believes naval blockade costs Iran $4.8 billion in oil revenue: Report
The Pentagon has estimated that Iran has suffered losses of around $4.8 billion in oil revenue due to a blockade imposed by the United States Navy on its ports, according to a report by Axios, which cited unnamed officials. The report noted that two tankers have been seized during the course of the blockade. In addition, officials said that as many as 31 tankers carrying approximately 53 million barrels of oil are currently "stuck in the Gulf," highlighting the scale of disruption caused to Ira...