The threat from the US president has left markets in another period of uncertainty, with questions over how the blockade will be enforced
Donald Trump has said the US will begin a blockade of the strait of Hormuz, after ceasefire talks with Iran ended without an agreement over the weekend.
The strait has emerged as Iran’s most effective weapon in its asymmetric war with the US. Since 28 February, the US and Israel have pounded Iran, striking thousands of targets and killing dozens of the country’s most senior leaders. Iran has responded by effectively closing the strait – a vital waterway through which in normal times about 20% of global oil moves – driving up oil prices and fuelling fears of a rise in inflation.
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