Trump compares US Navy to ‘pirates’ for seizing Iranian oil ships: 'It's a very profitable business'

PALM BEACH, FLORIDA: President Donald Trump compared the US Navy to "pirates" for successfully carrying out Washington's naval blockade ​of Iranian ports during the US and Israel's war against Iran.

The 79-year-old commander-in-chief was attending the Forum Club of the Palm Beaches' annual dinner as a special guest on Friday, May 1, when he boasted of the profits the US has made from its blockade of the Strait of Hormuz.

"We took over the ship, we took over ​the cargo, we took over the oil. It's a very ​profitable business," Trump said, adding, "We're ⁠like pirates. We're sort of like pirates, but we are not ​playing games."

The blockade, focused on strategic routes like the Gulf of Oman, has sharply curtailed Iran’s oil exports, a key lifeline for its economy.

US officials say the move is a part of a broader strategy to squeeze Tehran’s capacity to fund regional operations while pressuring it toward renewed negotiations.

US naval blockade costs Iran $4.8 billion

Trump’s statement came on the heels of the Department of Defence’s revelation that Iran has lost nearly $5 billion in oil revenue as a result of the US blockade of the Strait of Hormuz.

The blockade, ordered by Trump as leverage in ceasefire talks, has forced more than 40 vessels carrying Iranian oil and other cargo to change course, a Pentagon official revealed.

According to a report by Axios, two ships have been seized by the US, while 31 tankers carrying 53 million barrels of Iranian oil are stuck in the Gulf of Oman with a value of over $4.8 billion.

Iran is also rapidly running out of space to store the oil it’s producing, with estimates suggesting it could hit full capacity in as little as 15 to 60 days.

“The blockade is working to perfection,” a US official told The Jerusalem Post, adding, “There is no economic trade going into or out of Iran.”

As a result, Iran has been forced to store all the oil it produces using multiple methods, ranging from onshore facilities to floating storage on tankers, especially Very Large Crude Carriers (VLCCs).

Trump not ‘satisfied’ by deals offered by Tehran

Amid the large-scale blockade, Trump said that he is “not satisfied” with a new peace proposal from Tehran, suggesting the US is “better off” without a deal with Iran.

“They want to make a deal, I’m not satisfied with it, so we’ll see what happens,” the president told reporters.

Later that night, speaking at an event at the Forum Club, Trump openly questioned whether he even wanted to pursue a deal at all.

“I'm so busy with the Iranians calling trying to make a good deal and we're not going to let that happen. They've got to make a bad deal. Maybe we're better off not making a deal at all,” he said.

Despite all the talk of deals and ongoing negotiations, Trump sent a letter to House Speaker Mike Johnson on Friday declaring that the “hostilities that began on Saturday, February 28, have terminated.”

The message effectively sidestepped a looming 60-day deadline that required the POTUS to secure congressional approval to continue military operations against Iran.