The United States military announced that it will begin blocking all Iranian ports starting Monday. According to the US Central Command, the blockade will start at 10 a.m. local time in Iran, equivalent to 2 p.m. GMT and 8 p.m. Bangladesh time. The military clarified that ships transiting through the Strait of Hormuz to other countries will not be obstructed. US President Donald Trump said he ordered the move in response to what he called Iran’s deliberate failure to reopen the Strait of Hormuz.

Iran’s parliament speaker Mohammad Bagher Ghalibaf stated that Iran will not bow to threats. The Iranian Revolutionary Guard Corps warned that any military vessel approaching the Strait of Hormuz would be considered a violation of the current ceasefire. The situation follows the collapse of peace talks in Pakistan, which Trump said failed because Iran refused to abandon its nuclear ambitions.

Following the announcement, global oil prices surged above 100 dollars per barrel, reflecting market fears of supply disruptions linked to the new blockade.