Iran war: What’s happening on day 62 as Trump asks Iran to ‘give up’?

United States President Donald Trump says Washington’s blockade of Iranian ports has been a success, urging Tehran to “just give up” as pressure mounts in a deepening standoff over the Strait of Hormuz.

Iran has pushed back strongly, with Parliament Speaker Mohammad Bagher Ghalibaf dismissing the US campaign as ineffective, while the military says its restraint so far has been “intended to give diplomacy a chance”.

Meanwhile, tensions in the Strait of Hormuz are rippling through global markets, sending oil prices above $120 a barrel and driving US petrol prices to a four-year high.

Here is what we know as the conflict enters day 62:

In Iran

Blockade ‘doomed to fail’: Iran’s President Masoud Pezeshkian said a US naval blockade on Iranian ports would deepen disruptions in the Gulf while failing to achieve its targets. “Any attempt to impose a maritime blockade or restrictions is contrary to international law… and is doomed to fail,” Pezeshkian said in a statement.
Iran speaker dismisses blockade’s impact on oil: Parliament Speaker Mohammad Bagher Ghalibaf said no oil wells have “exploded” under the US blockade, arguing the measures have only driven up global prices. He added Iran’s storage has not reached capacity and accused US officials, including Treasury Secretary Scott Bessent, of acting on “junk advice” over the policy.
Can the blockade force a production halt? The US says cutting off exports will eventually push Iran’s storage to capacity, forcing output to stop, but analysts say remaining storage may cover only about 20 days of output. As Muyu Xu, a senior crude oil analyst at Kpler, notes, any cuts are likely to be gradual, with a higher chance of acceleration into May.
No US presence in strait: Ghalibaf vowed his country’s control over the strategic Strait of Hormuz would ensure a future without US presence in the Gulf region.

War diplomacy

Putin-Trump talks: Russian President Vladimir Putin warned his US counterpart Donald Trump not to resume attacks on Iran. In a phone call between the two leaders, Putin said Trump’s decision to extend the ceasefire was “the right one”, Kremlin aide Yuri Ushakov told reporters, including from the AFP news agency.

Sticking points in US-Iran negotiations: The two sides remain divided over Iran’s nuclear programme and uranium stockpile, the US blockade, the release of $20bn in Iranian assets, and Tehran’s demand for $270bn in war reparations.

Geopolitical ripple effects: OPEC is reportedly in “crisis mode” amid the energy shock and the UAE’s plan to exit the group. Trump is also weighing a reduction of US troops in Germany after tensions with Berlin.

US-Germany tensions: Trump said the US was considering reducing its troops in Germany over Chancellor Friedrich Merz’s refusal to join Washington’s war against Iran – a force estimated between 35,000 and 50,000 troops.

EU pushes back: Following Trump’s comments, the European Union said Thursday that the deployment of US troops in Europe was in Washington’s interest. “Our NATO allies are also increasing their defence spending at an unprecedented pace,” EU spokeswoman Anitta Hipper added.

In the Gulf

Iran condemns Bahrain citizenship revocations: Tehran says Manama violated the rights of 69 people stripped of citizenship for allegedly supporting Iranian attacks. Bahrain’s Ministry of Interior accused them of “colluding with foreign entities”, while Iran’s Ministry of Foreign Affairs called the move “discriminatory” and an attempt to deflect from support for US-Israeli actions.

In the US

‘$25bn’ cost of the war so far: US Defense Secretary Pete Hegseth was asked during a fiery exchange in Congress about the cost of 60 days of conflict, and replied that it was estimated at less than $25bn so far.

Long blockade: Trump has told national security officials to prepare for a long blockade of Iran’s ports to compel Tehran to give up its nuclear programme, according to the Wall Street Journal.

‘No more Mr. Nice Guy’: “Iran can’t get their act together. They don’t know how to sign a nonnuclear deal. They better get smart soon!” Trump posted on his Truth Social platform, alongside an illustration of himself holding an assault rifle, with the caption “NO MORE MR. NICE GUY!”

Economic toll of the blockade: Washington says it has seized nearly $500m in Iranian crypto assets under “Operation Economic Fury” to ramp up pressure. Meanwhile, US Democrats are criticising the war’s $25bn cost, citing higher fuel and food prices for Americans.

In Lebanon and Gaza

Lebanon slams Israel: Lebanese President Joseph Aoun condemned the “continuing Israeli violations” in south Lebanon, saying they included “demolitions of homes and places of worship, while the number of killed and wounded rises day after day”.

Deadly Lebanon strike: Israeli strikes on three south Lebanon villages killed nine people, among them two children and five women, according to Lebanon’s Health Ministry.

Gaza crisis deepens: Israeli forces have intercepted a Gaza-bound civilian aid convoy in what a press officer described as a possible “kidnapping on the high seas”, while Palestinians continue to be killed in the Gaza Strip despite a fragile “ceasefire”.

Global economy

Oil jumps: Global crude prices soared following reports of a possible extended blockade, with Brent jumping above $119 a barrel to its highest level since 2022 and US benchmark WTI above $105.

Record profits: French fossil fuel giant TotalEnergies said net profit rose 51 percent in the first quarter to $5.8bn, boosted by higher oil prices linked to the war in Iran.

Asia hit hard by rising oil prices: The Asia Pacific region, heavily reliant on Middle East oil, is feeling the strain as Brent crude nears $120 a barrel. The Asian Development Bank has cut growth forecasts and raised inflation projections, with higher fuel and food prices hitting millions.

‘Major energy crisis’: The world is facing a “major energy and economic challenge” as oil prices have soared in the wake of the war, said International Energy Agency chief Fatih Birol at a Paris meeting. With the world faced with “the biggest energy crisis in history”, oil prices were “putting a lot of pressure in many countries”, he added.