'Starving for cash': Trump says Iran is losing $500 million every day

ALBAWABA - U.S. President Donald Trump announced the postponement of the ceasefire deal agreed with Iran shortly before the two-week truce reached its deadline.

However, he said the United States will continue to blockade Iranian ports until Tehran submits a proposal for talks, and "discussions are concluded, one way or the other".

On the other side, Iranian Foreign Minister Abbas Araghchi responded to the U.S. military blockade of Iran's ports by saying that "blockading Iranian ports is an act of war and thus a violation of the ceasefire". He added Tehran knows "how to resist bullying".

In a post on Truth Social, the U.S. president allegedly said that Iran is losing $5 million daily over the closure of access to Iranian ports.

He wrote, "Iran is collapsing financially! They want the Strait of Hormuz opened immediately—starving for cash! Losing 500 million dollars a day. Military and police complaining that they are not getting paid. SOS!!!"

The war started on Feb. 28 when the U.S. and Israel carried out a preemptive attack on Tehran. In response, Iran launched attacks targeting Israel and American assets in the Middle East.

After a 40-day war, Trump announced a ceasefire agreement with Iran for 14 days, and peace talks were held once in Pakistan's Islamabad.