President Trump claims Iran is losing $500 million a day under the US blockade and is desperate to reopen the Strait of Hormuz.
Treasury Secretary Scott Bessent stated that Iran's Kharg Island oil storage will reach capacity within days, forcing fragile wells to shut down.
President Trump has publicly claimed the blockade is costing Iran $500 million per day, an increase from the previously cited $400 million figure.
The President has reiterated his earlier claim on a different social media platform, adding the assertion that Iran's threats to close the strait are a bluff because they need it open for revenue.
Trump added new details, stating that people approached him four days ago about Iran wanting to reopen the strait and linking reopening to the impossibility of a future deal.
Trump adds that people approached him four days ago about Iran wanting to open the strait, and he dismisses the idea, stating a deal would require destroying Iran's leadership.
Trump added that intermediaries approached him four days ago seeking to reopen the strait, which he rejected.
Trump's latest statement reiterates his previous $500 million daily loss claim and explicitly connects Iran's threats to close Hormuz to the existing US blockade.
Trump added new claims that Iran's military and police are complaining about not being paid.
