A US naval blockade targeting Iran’s ports has led to an estimated $4.8 billion loss in Iranian oil revenue, according to a report by Axios citing Pentagon officials.

The report highlights the scale of disruption, noting that two oil tankers have been seized and at least 31 vessels carrying around 53 million barrels of oil remain stranded in the Gulf. The situation has significantly impacted Iran’s ability to export crude, a key source of national revenue.

Officials also indicated that some tankers are now rerouting shipments via longer and more expensive paths to reach China, reflecting growing concerns over potential US maritime interception. These altered shipping patterns underscore the broader economic pressure being applied through the blockade.

The United States imposed the blockade during a temporary truce, aiming to push Iran toward accepting a Pakistan-mediated ceasefire to bring an end to the ongoing conflict involving Iran, Israel, and the US. Although Iran had announced the reopening of the Strait of Hormuz following a 10-day ceasefire between Israel and Hezbollah, restrictions were reimposed after Washington chose not to lift its blockade.

The US has maintained that maritime restrictions will remain until a permanent resolution to the conflict is achieved.

Meanwhile, President Donald Trump informed lawmakers that hostilities with Iran have “terminated,” noting that no direct exchanges of fire have occurred since April 7, 2026. The statement comes as the military campaign reached the 60-day limit under the War Powers Resolution, which requires congressional approval for extended military action.

The development is also seen as an attempt to ease tensions in Washington over executive authority in military engagements without congressional consent.