US blockade costs Iran $4.8 billion, US Navy acting 'sort of like pirates,' Trump says - report

The US blockade has resulted in Iran losing nearly $4.8 billion in oil revenue, with US President Trump stating that the US Navy is acting ‘like pirates’ during the naval blockade of Iranian ports. Iran is facing storage capacity shortages and may exceed its storage capacity within 15-60 days, potentially creating a more favorable environment for a potential US-Iran agreement. The US has seized Iranian vessels and tankers, as well as Iranian container ships.