Trump Cancels US-Iran-Pakistan Negotiations — Hormuz Blockade Continues De Facto

Trump announced cancellation of US-Iran-Pakistan talks on April 25. On April 23, Trump stated he controls the Hormuz Strait and claimed Iran would earn half a billion dollars per day from opening it. Hormuz transit shipping has plummeted to 5% of pre-conflict levels, causing record global crude supply disruption of 10.1 million barrels per day reduction (to 97 mb/d) in March.