President Donald Trump in the Oval Office of the White House, Wednesday, Oct. 22, 2025, in Washington. (AP Photo/Alex Brandon)
Iran’s economy could “grind to a halt” under the US blockade of the Strait of Hormuz, a senior Iranian trade official warned, estimating the pressure could cost Tehran $18 billion annually and cripple much of its foreign trade.
President Donald Trump meanwhile declared that Washington has “total control” of the strategic waterway and dismissed any suggestion he trusts Tehran. “They’ve lied to me constantly… we own it,” Trump said, warning Iran could “get blown away” if it challenges the US position.
Iranian trade chief Majidreza Hariri acknowledged that shifting commerce overland could slash the country’s trade capacity to roughly 20%, warning Tehran must end the blockade through negotiations, threats or even renewed war: “This naval blockade must end.”
Proposed coalition would also need Shas support, despite its endorsement of Netanyahu.
The agency last estimated Iran held over 440 kilograms of uranium enriched to 60% purity.
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