US-Iran Truce Holds as US Plans Strait of Hormuz Blockade Amid Tensions

Mon, 13 Apr 2026 08:47:00 +0200

After weekend negotiations in Pakistan between the US and Iran failed to produce an agreement, President Donald Trump announced that a two-week ceasefire is 'holding well.' Despite the truce, the US military will enforce a blockade on ships entering and leaving Iranian ports in the Strait of Hormuz starting at 10 a.m. ET. The blockade aims to cut off revenue Iran collects from tolls charged to passing ships. Iran has warned that any military vessels attempting to approach the strait will face severe retaliation, although civilian vessels may pass if they follow regulations. The stalemate has impacted global markets, with oil prices rising above $100 per barrel and Asian stock markets declining. In Lebanon, Israeli strikes targeting Hezbollah continue, with more than 2,000 reported deaths and thousands wounded, even as diplomatic talks between Israel and Lebanon are scheduled. India's energy sector is particularly vulnerable, as it relies heavily on Middle Eastern oil and gas, with disr