[Source: Reuters]

President Donald Trump said on Sunday the U.S. Navy would start blockading the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeopardizing ​a fragile two-week ceasefire.

The U.S. Central Command said U.S. forces would begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.

It ‌would be “enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman,” a CENTCOM statement on X said.

U.S. forces would not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports, and additional information would be provided to commercial mariners through a formal notice prior to the start of the blockade, it said.

Trump said in a post on social media the U.S. would take action against ​every vessel in international waters that had paid a toll to Iran, and begin destroying mines that he said the Iranians had dropped in the Strait, a choke point for about 20% of ​global energy supplies that Iran has blocked.

“No one who pays an illegal toll will have safe passage on the high seas,” Trump wrote, adding: “Any Iranian who fires at ⁠us, or at peaceful vessels, will be BLOWN TO HELL!”

Iran’s Revolutionary Guards responded to Trump by warning that military vessels approaching the Strait will be considered a ceasefire breach and dealt with harshly and decisively, underlining the ​risk of a dangerous escalation.

Iran’s Parliamentary Speaker Mohammad Baqer Qalibaf, who led his country’s delegation to the talks along with Foreign Minister Abbas Araqchi, said Trump’s new threats would have no effect on Iran.

“If you fight, we will ​fight, and if you come forward with logic, we will deal with logic,” he said in comments carried by state media.

The weekend talks in Islamabad, which followed the announcement of a ceasefire on Tuesday, were the first direct U.S.-Iranian meeting in more than a decade and the highest-level discussions since the 1979 Islamic Revolution.

IRAN BEMOANS ‘MAXIMALISM, SHIFTING GOALPOSTS, AND BLOCKADE’

Araqchi said Iran had engaged in good faith but had “encountered maximalism, shifting goalposts, and blockade” when just inches away from an “Islamabad MoU.”

“Zero lessons earned,” he added. “Good will begets good ​will. Enmity begets enmity.”

Speaking after the talks, Vice President JD Vance, who headed the U.S. delegation, said: “The bad news is that we have not reached an agreement, and I think that’s bad news for Iran much more ​than it’s bad news for the United States of America.”

Six weeks of fighting has killed thousands, roiled the global economy and sent oil prices soaring as Iran prevented traffic through the Strait.

Oil prices jumped above $100 per barrel early on Monday.

Trump said on ‌Sunday the price ⁠of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political fallout from the war.

A few hours after Trump’s comments, Qalibaf took to social media to post a map of Washington-area gasoline prices and the comment: “Enjoy the current pump figures. With the so-called ‘blockade’, soon you’ll be nostalgic for $4–$5 gas.”

The dollar jumped against other major currencies on Sunday, as investors sought the relative safety of the currency after the talks failed to yield a deal, plunging markets into a seventh week of uncertainty.