US President Donald Trump criticized Iran's recent announcement to close the Strait of Hormuz, claiming Tehran is trying to blackmail the US. This closure follows a brief reopening after a ceasefire agreement related to the conflict involving Iran's ally, Hezbollah, in Lebanon. The Islamic Revolutionary Guard Corps (IRGC) stated that the closure would persist until the US lifts its naval blockade of Iranian ports, warning vessels to stay away from the chokepoint. Trump's comments came during a White House event where he noted ongoing talks with Iran, asserting a tough stance against the country. The closure has caused market instability, particularly affecting oil prices, as it adds to the uncertainty surrounding the two-week ceasefire that is nearing its end. The Strait of Hormuz remains a pivotal issue in the broader negotiations between the US and Iran, alongside concerns about Iran's enriched uranium stockpile.