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Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

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PoliticsIran

Trump says Marines have seized an Iranian-flagged cargo ship that tried to evade blockade after Navy blew a ‘hole in the engineroom’

By
Michelle L. Price
Michelle L. Price
,
Samy Magdy
Samy Magdy
,
Sam Metz
Sam Metz
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The Associated Press
The Associated Press
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By
Michelle L. Price
Michelle L. Price
,
Samy Magdy
Samy Magdy
,
Sam Metz
Sam Metz
, and
The Associated Press
The Associated Press
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April 19, 2026, 4:49 PM ET
Arleigh Burke-class guided-missile destroyer USS Spruance (DDG 111) approaches fleet replenishment oiler USNS Henry J. Kaiser (T-AO-187) before a replenishment-at-sea during Operation Epic Fury, Mar. 10, 2026.
Arleigh Burke-class guided-missile destroyer USS Spruance (DDG 111) approaches fleet replenishment oiler USNS Henry J. Kaiser (T-AO-187) before a replenishment-at-sea during Operation Epic Fury, Mar. 10, 2026. U.S. Navy

President Donald Trump said the U.S. forcibly seized an Iranian-flagged cargo ship that tried to get around a naval blockade near the Strait of Hormuz on Sunday, the first such interception since the blockade of Iranian ports began last week.

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Trump on social media said the ship was warned by a U.S. Navy guided missile destroyer in the Gulf of Oman to stop, but it did not. He said the Navy “stopped them right in their tracks by blowing a hole in the engineroom” and that U.S. Marines had custody of the vessel, named Touska, and were “seeing what’s on board!”

There was no immediate Iran comment. The news threw into question Trump’s earlier announcement that U.S. negotiators would head to Pakistan on Monday for another round of talks with Iran.

That had raised hopes of extending a fragile ceasefire set to expire by Wednesday, even as Washington and Tehran remain in a standoff over the Strait of Hormuz.

Iran has not confirmed it would attend. While its chief negotiator, parliament speaker Mohammed Bagher Qalibaf, said in an interview aired on state television late Saturday that “there will be no retreat in the field of diplomacy,” he acknowledged a wide gap remained between the sides.

Host Pakistan also did not confirm a second round, but authorities began tightening security in Islamabad. A regional official involved in the efforts said mediators were finalizing preparations and U.S. advance security teams were on the ground. The official spoke on condition of anonymity because they weren’t authorized to discuss preparations with the media.

The White House said Vice President JD Vance, who led the first round of historic face-to-face talks over 21 hours last weekend, would lead the U.S. delegation to Pakistan with envoys Steve Witkoff and Jared Kushner.

Iran on Saturday said it had received new proposals from the United States. It was unclear whether either side had shifted stances on issues that derailed the last round of negotiations, including Iran’s nuclear enrichment program, its regional proxies and control over the Strait of Hormuz.

Trump’s announcement repeated his threats against Iranian infrastructure that have drawn widespread criticism and warnings of war crimes. If Iran doesn’t agree to the U.S.-proposed deal, “the United States is going to knock out every single Power Plant, and every single Bridge, in Iran,” he wrote.

Iran says transits of the Strait of Hormuz are ‘impossible’

Ships remain unable to transit the critical waterway amid threats from Iran and a U.S. blockade on ships heading to and from Iranian ports. Hundreds of vessels were waiting at each end for clearance.

One of the worst global energy crises in decades threatened to deepen. Roughly one-fifth of the world’s oil trade normally passes through the strait, along with critical supplies of fertilizer for the world’s farmers, natural gas and humanitarian supplies for places in dire need like Afghanistan and Sudan.

Iranian officials earlier on Sunday held firm that ships wouldn’t pass while the U.S. blockade remained in effect. “It is impossible for others to pass through the Strait of Hormuz while we cannot,” Qalibaf said.

In his post about talks, Trump accused Iran of violating the ceasefire by firing at ships transiting the strait. Iran has called the U.S. blockade a violation, and foreign ministry spokesperson Esmail Baghaei on Sunday called it an “act of aggression.”

Iran had announced the strait’s reopening after a 10-day truce between Israel and the Iranian-backed Hezbollah militant group in Lebanon took hold on Friday. But Iran said it would continue enforcing its restrictions there after Trump said the U.S. blockade “will remain in full force” until Tehran reaches a deal with the United States.

After a brief uptick in transit attempts on Saturday, Iran fired on two Indian-flagged merchant ships that were forced to turn around, leading India to summon Iran’s ambassador over the “serious incident.” India noted that Iran earlier let several India-bound ships through.

For the Islamic Republic, the strait’s closure — imposed after the U.S. and Israel launched the Iran war on Feb. 28 during talks over Tehran’s nuclear program — is perhaps its most powerful weapon, inflicting political pain on Trump. For the United States, the blockade squeezes Iran’s already weakened economy by denying it long-term cash flow.

The war — now in its eighth week — has killed at least 3,000 people in Iran, more than 2,290 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states. Fifteen Israeli soldiers in Lebanon and 13 U.S. service members throughout the region have been killed.

Since most supplies to U.S. military bases in the Gulf region come through the strait, “Iran is determined to maintain oversight and control over traffic through the strait until the war fully ends,” Iran’s Supreme National Security Council said late Saturday. That means Iran-designated routes, payment of fees and issuance of transit certificates.

The council has recently acted as Iran’s de facto top decision-making body.

Pakistan presses on diplomacy and Iran issues a warning

Pakistani Foreign Minister Ishaq Dar, who spoke by phone with Iran’s Foreign Minister Abbas Araghchi on Sunday, has said his country is working to “bridge” differences between the U.S. and Iran.

Pakistan later said Prime Minister Shehbaz Sharif spoke by phone for 45 minutes with Iran’s President Masoud Pezeshkian.

Iranian Deputy Foreign Minister Saeed Khatibzadeh on Saturday told The Associated Press that the U.S. is “risking the whole ceasefire package” with its blockade.

Khatibzadeh said Iran won’t hand over its stock of 970 pounds (440 kilograms) of enriched uranium to the United States, calling the idea “a nonstarter.” The deputy minister didn’t address other proposals for the enriched uranium, saying only that “we are ready to address any concerns.”

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