• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii

1

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
PoliticsIran

Trump says U.S. Navy to impose Hormuz blockade after Iran ceasefire talks end with no deal. ‘No one who pays an illegal toll will have safe passage’

By
Munir Ahmed
Munir Ahmed
,
Josh Boak
Josh Boak
,
Sam Metz
Sam Metz
,
Samy Magdy
Samy Magdy
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Munir Ahmed
Munir Ahmed
,
Josh Boak
Josh Boak
,
Sam Metz
Sam Metz
,
Samy Magdy
Samy Magdy
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
April 12, 2026, 10:37 AM ET
Vice President JD Vance, right, speaks during a news conference after meeting with representatives from Pakistan and Iran as Jared Kushner, left, and Steve Witkoff, Special Envoy for Peace Missions listen, on Sunday, April 12, 2026, in Islamabad, Pakistan.
Vice President JD Vance, right, speaks during a news conference after meeting with representatives from Pakistan and Iran as Jared Kushner, left, and Steve Witkoff, Special Envoy for Peace Missions listen, on Sunday, April 12, 2026, in Islamabad, Pakistan. AP Photo/Jacquelyn Martin
Add Fortune on Google for similar content.

President Donald Trump on Sunday said the U.S. Navy would “immediately” begin a blockade to stop ships from entering or leaving the Strait of Hormuz, after historic U.S.-Iran ceasefire talks in Pakistan ended without an agreement or next diplomatic steps in sight.

Recommended Video

In his first public comments after the 21-hour talks, Trump sought to exert strategic control over the waterway that was responsible for the shipping of 20% of global oil supplies before the war, hoping to eliminate Iran’s key source of leverage.

The prospect of a U.S. blockade could further rattle global energy markets and prices for oil, natural gas and related products. It was not immediately clear how a blockade might be carried out, but Trump said the goal of the blockade was to ensure all ships could transit: “It’s going to be all or none, and that’s the way it is.”

Trump said he has “instructed our Navy to seek and interdict every vessel in International Waters that has paid a toll to Iran. No one who pays an illegal toll will have safe passage on the high seas.” Other nations would be involved in the blockade, he said, but did not name them.

Trump stressed that Tehran’s nuclear ambitions were at the core of the failure to end the war, and the U.S. was ready to “finish up” Iran at the “appropriate moment.”

No word on what happens after ceasefire expires

Face-to-face talks ended earlier Sunday, the highest-level negotiations between the longtime rivals since the 1979 Islamic Revolution. Both delegations later left Islamabad.

Neither side indicated what will happen after the 14-day ceasefire expires on April 22. Pakistani mediators urged all parties to maintain it. Both sides said their positions were clear and blamed the other, underscoring how little the gap had narrowed.

“We need to see an affirmative commitment that they will not seek a nuclear weapon, and they will not seek the tools that would enable them to quickly achieve a nuclear weapon,” Vice President JD Vance, leading the U.S. side, said afterward.

Iran’s parliament speaker Mohammad Bagher Qalibaf, who led Iran in talks, said it was time for the United States “to decide whether it can gain our trust or not.” Iranian officials earlier said talks fell apart over two or three key issues, blaming what they called U.S. overreach.

Pakistani Foreign Minister Ishaq Dar said his country will try to facilitate a new dialogue between Iran and the U.S. in the coming days.

Iran said it was open to continuing the dialogue, Iran’s state-run IRNA news agency reported.

The European Union urged further diplomatic efforts. The foreign minister of Oman, on the southern coast of the Strait of Hormuz, called for both parties to “make painful concessions.” And the Kremlin said Russian President Vladimir Putin had “emphasized his readiness” to help bring about a diplomatic settlement in a call with Iran’s president.

Iran’s nuclear program is a key sticking point

Since the U.S. and Israel launched the war on Feb. 28, the fighting has killed at least 3,000 people in Iran, 2,020 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states, and caused lasting damage to infrastructure in half a dozen Middle Eastern countries. Iran’s grip on the Strait of Hormuz has largely cut off the Persian Gulf and its oil and gas exports from the global economy, sending energy prices soaring.

Tensions have long centered on Iran’s nuclear program. Tehran has long denied seeking nuclear weapons but insisted on its right to a civilian nuclear program. It has offered “affirmative commitments” in the past in writing, including in the landmark 2015 nuclear deal, which took well over a year of negotiations. Experts say its stockpile of enriched uranium, though not weapons-grade, is only a short technical step away.

An Iranian diplomatic official, speaking on the condition of anonymity because of the sensitivity of closed-door talks, denied that negotiations had failed over Iran’s nuclear ambitions.

“Iran is not seeking to acquire nuclear weapons, but it has the right to nuclear energy for peaceful purposes,” the official said.

In Iran, there was fresh exhaustion and anger after months of unrest that had begun with nationwide protests against economic issues and then political ones, and then weeks of sheltering from U.S. and Israeli bombardment.

“We have never sought war. But if they try to win what they failed to win on the battlefield through talks, that’s absolutely unacceptable,” 60-year-old Mohammad Bagher Karami said in Tehran.

US moves to shift status quo in Strait of Hormuz

During the talks, the U.S. military said two destroyers transited the critical strait ahead of mine-clearing work, a first since the war began. Iran’s state media said the country’s joint military command denied that.

Before talks began, the ceasefire was already threatened by other deep disagreements and Israel’s continued attacks against the Iranian-backed Hezbollah in Lebanon.

Iran’s 10-point proposal had called for a guaranteed end to the war and sought control over the Strait of Hormuz. It wanted the end of fighting against Iran’s “regional allies,” explicitly calling for a halt to Israeli strikes on Hezbollah.

Pakistani officials earlier told The Associated Press that the U.S. 15-point proposal included a rollback of Iran’s nuclear program. Speaking on condition of anonymity as they weren’t authorized to discuss details, they said it also covered reopening the Strait of Hormuz.

Israel presses ahead with strikes in Lebanon

The impasse raises new questions about Lebanon. Israel has said the agreement did not apply there, but Iran and Pakistan claimed otherwise. Negotiations between Israel and Lebanon are expected to begin Tuesday in Washington after Israel’s surprise announcement authorizing talks despite their lack of official relations.

The day the Iran ceasefire deal was announced, Israel pounded Beirut with airstrikes, killing more than 300 people in the deadliest day in Lebanon since the war began, according to the country’s Health Ministry.

Though Israel’s strikes over Beirut have calmed, its attacks on southern Lebanon have intensified alongside the ground invasion it renewed after Hezbollah launched rockets toward Israel in the war’s opening days.

Lebanon’s state-run National News Agency reported six people were killed Sunday in an Israeli strike in Maaroub village near the coastal city of Tyre.

Israel wants Lebanon’s government to assume responsibility for disarming Hezbollah, but the militant group has survived efforts to curb its strength for decades.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Munir Ahmed
See full bioRight Arrow Button Icon
By Josh Boak
See full bioRight Arrow Button Icon
By Sam Metz
See full bioRight Arrow Button Icon
By Samy Magdy
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

t
CryptoWhite House
‘We are in a new era’: Trump’s bombshell $2.2 billion income haul, the ‘Big Player Theory’ and what happens when the president becomes the bubble
By Nick LichtenbergJuly 3, 2026
2 hours ago
Photo: Iranian Supreme Leader Ayatollah Ali Khamenei
PoliticsIran
In Iran, regime officials who survived the war intended to kill them appear in public for dayslong funeral of the late Supreme Leader Khamenei
By Nasser Karimi, Jon Gambrell and The Associated PressJuly 3, 2026
3 hours ago
Photo: Russian President Vladimir Putin Attends ASEAN-Russia Summit
Energyputin
Russians live with fuel shortages and rationing as Putin insists the war against Ukraine will go on
By The Associated PressJuly 3, 2026
3 hours ago
Photo: Ivanka Trump and Jared Kushner
Environmentjared kushner
Police use tear gas and pepper spray against Albanians protesting Trump family plans to develop unspoiled island into a luxury resort
By The Associated PressJuly 3, 2026
3 hours ago
U.S. Treasury Secretary Scott Bessent
EconomyDebt
AI’s $2.2 trillion deficit fix is already half fake, economists say
By Tristan BoveJuly 2, 2026
17 hours ago
m
Politicsfraud
Trump fights fraud by freezing funding for New York’s Medicaid Fraud Control Unit
By Ali Swenson, Geoff Mulvihill and The Associated PressJuly 2, 2026
17 hours ago

Most Popular

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
17 hours ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
Success
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the 'highest-quality beef in the world' on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
19 hours ago
Current price of oil as of July 2, 2026
Personal Finance
Current price of oil as of July 2, 2026
By Joseph HostetlerJuly 2, 2026
22 hours ago
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
Success
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
21 hours ago
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
Economy
Economists have found an answer to slowing cognitive decline: Avoid retiring early, study finds
By Sasha RogelbergJuly 2, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.