On Monday, U.S. President Donald Trump announced that a U.S.-led blockade against Iran has commenced in the Strait of Hormuz, a crucial passage for global oil supplies. Trump stated that Iran is currently not conducting any business and is seeking to negotiate, indicating potential openings for dialogue. However, he firmly ruled out any agreements that would allow Iran to develop nuclear weapons, emphasizing the need for stringent measures to prevent such an outcome. The blockade, which began at 10 a.m. on Monday, comes amid heightened tensions and follows weeks of disruptions in the strait, raising concerns in energy markets and among nations dependent on oil imports. Trump highlighted that securing the strait is vital not just for the U.S. but for the global economy, as disruptions have led to increased fuel costs and inflationary pressures. He warned that any escalation in the situation would have serious consequences, although he noted that there is currently no fighting.