Iran said the U.S.'s blockade of the Strait of Hormuz amounts to "piracy" as oil prices rise again.
Tehran also threatened a "forceful response" to U.S. actions, including targeting ports across the Gulf.
"Security in the Persian Gulf and the Sea of Oman is either for everyone or for NO ONE," the Islamic Republic of Iran Broadcasting reported Monday, according to The Associated Press.
The U.S. Central Command anticipated that the blockade will impact "vessels of all nations entering or departing Iranian ports and coastal areas." It added that it will allow ships traveling between non-Iranian ports to transit the strait but they won't be able to leave.
Trump announced the blockade on Sunday, adding that at "an appropriate moment, we are fully "LOCKED AND LOADED," and our Military will finish up the little that is left of Iran."
Shortly after the announcement, crude prices again climbed past $100 per barrel, reversing earlier declines and signaling fresh volatility.
The Strait of Hormuz remains a critical focal point, acting as a narrow but vital passage that carries roughly one-fifth of the world's oil supply. Even minor interruptions in this corridor tend to send shockwaves through global markets.
The blockade could effectively remove around 2 million barrels of oil per day from global circulation, according to Reuters.
While it does not amount to a full closure of the strait, the effect is already being felt. Tanker traffic has slowed as shipping companies reassess security risks and weigh the cost of operating in an increasingly uncertain environment, the global news agency reported. As a result, hesitation in the shipping sector is feeding directly into higher prices.
Two key NATO members said they won't join the U.S.'s blockade as tensions between Washington and several members of the alliance continues.
Reuters detailed that Britain and France said they won't be dragged into the conflict by taking part in the operation.
Moreover, Spanish Defense Minister Margarita Robles condemned the blockade, saying it "makes no sense." "This is just another episode of the downward spiral we have been dragged into, and that they have tried to drag the entire world into," she added.
The outlet went on to note that several European countries said they are willing to help guarantee navigation through the key waterway but after parties reach a deal to end hostilities and prevent ships from being attacked.
