Pentagon says US naval blockade cost Iran $4.8B

A US naval blockade targeting Iranian oil shipments has cost Tehran an estimated $4.8 billion in lost revenue, a Pentagon official told The Hill on Friday, citing a Defense Department assessment first reported by Axios.

The blockade, imposed April 13 in and around the Strait of Hormuz, is part of pressure ordered by President Donald Trump amid stalled negotiations with Iran.

"The United States' blockade in the Strait of Hormuz is operating with full force and delivering the decisive impact we intended. We are inflicting a devastating blow to the Iranian regime's ability to fund terrorism and regional destabilization.

"Our Armed Forces in the region will continue to maintain this unrelenting pressure," acting Pentagon press secretary Joel Valdez said in a statement.

US Central Command (CENTCOM) said US forces have turned away 45 commercial vessels since the operation began. Iran has simultaneously restricted passage in the strait, while US forces have intercepted traffic in the Gulf of Oman.

Trump also notified Congress that a ceasefire with Iran extends the timeline tied to the War Powers Act following the conflict's Feb. 28 start. He was briefed Thursday by CENTCOM commander Adm. Brad Cooper and Joint Chiefs Chairman Gen. Dan Caine on military options.

"There are options. Do we want to go and just blast the hell out of them and finish them forever or do we want to try and make a deal?" Trump told reporters Friday, adding he preferred a negotiated outcome.