After negotiations between the United States and Iran broke down over the weekend, the Strait of Hormuz remains closed and now President Donald Trump is considering a blockade. At the same time, there are reports that ships still allowed to pass must pay high tariffs.

After 20 hours of talks, Vice President JD Vance left the Pakistani capital Islamabad without any breakthroughs. Iran is said to have refused to accept basic demands to end the country’s nuclear weapons ambitions.

In a lengthy post on Truth Social, Trump wrote about the negotiations and issued new demands that the strait be opened, while once again stressing that Iran will never be allowed to acquire nuclear weapons.

ALSO READ: Peace talks between the US and Iran have broken down

According to Trump, the US Navy will begin a blockade of the Strait of Hormuz on Monday, and ships that have paid Iranian tariffs will be pursued.

From Iran, the Revolutionary Guard responds that they have full control over traffic in the strait.

Prices Rising

After oil prices initially rose when the conflict began and then dropped again following the announcement of a two-week ceasefire, reports now indicate that on Monday morning prices are climbing again and have returned to over $100 per barrel.

As the war appears likely to drag on, experts fear that rising prices will persist for a longer period. According to Trump, the blockade will begin at 4:00 p.m. Swedish time.

ALSO READ: Iran: We charge a tariff per barrel of oil—in crypto