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Trump Reimposes Strait Blockade, Cutting Iran Oil Exports 80%

8/29/2026

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Trump Reinstates Blockade
  • U.S. President Donald Trump reinstated a naval blockade on Iranian oil shipments in the Strait of Hormuz on July 14, 2026.
  • The administration hesitated to apply secondary sanctions on China, leaving Chinese banks unnamed and casting doubt on the blockade’s effectiveness.
  • Treasury Secretary Scott Bessent called the sanctions “toughest in history,” an “economic D-Day” for Iran.
  • China buys about 90 % of Iran’s oil, so its banks are crucial to Tehran’s revenue.
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