Iran has re-imposed controls on the Strait of Hormuz less than 24 hours after U.S. President Donald Trump claimed the waterway would never be closed again. According to reports from crypto.news, Iranian state media outlets including IRIB and the IRGC-linked Fars News Agency confirmed that the Iranian military had returned the strait to 'its previous state' as of April 18. Vessels now require Iranian approval to pass, with regional shipping reports confirming that multiple ships were already being turned around. The closure represents a dramatic reversal from Trump's earlier celebration of the strait's reopening, which he had welcomed as 'fully open and ready for business' on April 17. Latest developments show Iran has doubled down on its pledge to restrict ships passing through the Strait of Hormuz as long as the US blockade of Iranian ports remains in place, as mediators scrambled to secure further talks before the ceasefire expires this week.
Iranian officials responded by rejecting the accusations and placing blame on the United States for the closure. As reported by crypto.news, Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused Trump of making '7 claims, all 7 false' within a short span of time. Deputy Foreign Minister Saeed Khatibzadeh confirmed that Trump's narrative did not match the facts on the ground, stating that vessels must coordinate with Iranian forces. The spokesperson from Iran's Ministry of Foreign Affairs had previously stated that U.S. actions had breached the terms of the ceasefire, describing the situation as escalating tensions rather than a one-sided breach. Iran maintains it never agreed to keep the strait permanently open, calling that framing a fabrication. Latest reports indicate that Iran's Parliament Speaker Mohammad Bagher Ghalibaf has disclosed details of behind-the-scenes negotiations with the United States, describing a tense standoff involving a US minesweeper during talks in Islamabad. Ghalibaf warned that the ceasefire was on verge of collapse when the U.S. attempted to mine-clear the strait, with the situation escalating to the point of conflict before the enemy retreated.
President Donald Trump announced that US negotiators will be in Pakistan on Monday to resume talks on ending the war with Iran, little more than a week after face-to-face talks in Islamabad on April 11 ended without agreement. According to AFP, the US and Iran held rare direct talks in Pakistan on April 11 and 12 aimed at ending their conflict, but the talks ended without any agreement. Vice President JD Vance will not lead the US delegation for new talks with Iran in Pakistan because of 'security' concerns, as earlier indicated by both the US envoy to the United Nations, Mike Waltz, and Energy Secretary Chris Wright. However, Pakistani authorities have begun taking stringent security measures for the safety of foreign delegates despite no official announcement about a second round of talks. Latest reports suggest that Iran is not yet ready to hold a new round of face-to-face talks with U.S. officials, a senior Iranian official said Saturday, citing Washington's refusal to abandon 'maximalist' demands on key issues. Iran's Parliament Speaker Ghalibaf revealed that 'We are still far from the final discussion', adding that 'we made progress in the negotiations, but there are many gaps and some fundamental points remain'.
Bitcoin has shown significant price movement in response to the geopolitical developments, with the asset pulling back to the $75,800-$77,100 range after briefly clearing $78,000 on April 17. According to market data from crypto.news, Bitcoin had earlier surged past $78,000, reaching an intraday high of $78,348 as reports of the strait's reopening emerged. The reversal followed conflicting updates from both sides regarding the ceasefire. Crypto markets often react to geopolitical events, with price swings linked to investor sentiment and risk perception during uncertain periods. The broader crypto market has experienced volatility during the same period, with traders adjusting positions as new information continues to emerge from diplomatic discussions.
The Strait of Hormuz closure has significant implications for global energy markets, as the waterway carries roughly 20% of global oil and liquefied natural gas. On April 17, after the reopening announcement, Brent crude dropped roughly 9% to settle near $92 per barrel, while WTI fell to the $82-$83 range. However, by April 18, Brent futures climbed back toward $94-$96 per barrel with intraday volatility, as the reversal began to take effect. Latest developments show that Iran's navy issued a stern warning that 'any attempt to approach the Strait of Hormuz will be considered cooperation with the enemy, and the offending vessel will be targeted', as reported by AFP. The closure follows the strait's earlier restriction since U.S.-Iran tensions escalated in early 2026, including U.S. strikes and a naval blockade of Iranian ports. Forward contracts for Brent June 2026 reflect continued near-term risk premiums, with shipping companies remaining cautious as security guarantees stay unresolved.
