Donald Trump is planning to hit Iran with “powerful” strikes to release its grip on the Strait of Hormuz after Vladimir Putin warned that resuming fighting would spell "extremely dire consequences" for the US.
The Pentagon has drawn up plans to hit the Islamic Republic's key infrastructure in a bid to force the regime to sue for peace, sources told Axios.
The President has become frustrated with Iran's stubbornness over refusing to give up its pursuit of nuclear weapons - a stumbling block which emerged during peace negotiations.
However on Wednesday, Mr Trump suggested the US blockade of the Strait of Hormuz was proving successful.
He said: "The blockade is somewhat more effective than the bombing.
"They are choking like a stuffed pig. And it is going to be worse for them."
Mr Trump has directed his advisers to draw up plans for a prolonged blockade of the vital waterway in a bid to strangle Iran's oil revenue - which may force the regime back to the negotiating table, according to the Wall Street Journal.
US officials are said to view an extended blockade as a safer option than reigniting strikes or declaring an end to the war.
On Wednesday, Mr Trump suggested the US blockade of the Strait of Hormuz was proving successful
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Vladimir Putin held a phone call with Mr Trump on Wednesday morning to discuss the ongoing conflict in the Middle East.
The Russian leader is said to have warned the US President that a return to fighting would have “inevitable, extremely dire consequences" for the US and "the entire international community".
Mr Putin reportedly urged the US to carry on with the ceasefire, saying it was "right" to “give negotiations a chance”.
Iran is now struggling to store its unsold oil, with the slashing of sales caused by America's blockade wreaking havoc on the country's economy, according to one US source.
And oil prices on Wednesday reached their highest level since the start of Operation Epic Fury - $120 (£89) per barrel.
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Vladimir Putin held a phone call with Mr Trump on Wednesday morning to discuss the ongoing conflict in the Middle East
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On Tuesday, the Trump administration held talks with leading energy industry figures to discuss how to limit the impact on American consumers as the blockade carries on.
Treasury Secretary Scott Bessent claimed the Islamic Republic was losing $170million (£86.74million) every day thanks to the US' restriction on vessels leaving the strait.
He said on Wednesday: “Kharg Island, Iran’s primary oil export terminal, is soon nearing storage capacity, which will force the regime to reduce oil production, resulting in an additional $170million per day in lost revenue."
Mr Bessent added it was causing "permanent damage" to the Middle Eastern country's oil infrastructure.
The senior Trump administration official said the blockade of the waterway was causing "permanent damage" to Iran's oil infrastructure
| REUTERSOn Wednesday morning, the US President took to his Truth Social platform to voice his frustration over the Islamic Republic's approach to peace negotiations.
He wrote: "Iran can't get their act together. They don't know how to sign a non-nuclear deal."
The President warned that the Middle Eastern country "better get smart soon".
He accompanied the message with an AI-generated image of himself brandishing a rifle in front of what appears to be an Iranian site being hit by strikes.
Mr Trump accompanied the picture with a caption reading: "No more Mr. Nice Guy!"
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