The U.S. military said it will begin a blockade of ships leaving Iran’s ports on Monday, and Tehran threatened to retaliate against ports of its Gulf neighbours, after weekend talks failed to reach a deal to end the war, leaving a ceasefire in jeopardy.
Oil prices surged when trade reopened on Monday, with no sign of a swift reopening of the Strait of Hormuz to ease the worst ever disruption in supplies.
An Iranian military spokesperson, quoted by state media, said any U.S. restrictions on vessels in international waters would be illegal and amount to “piracy”. If Iranian ports were threatened, no port in the Gulf or Gulf of Oman would remain secure, the spokesperson said. Earlier, Iran’s Revolutionary Guards said any military vessels approaching the strait would be considered to have violated the ceasefire.