00:00U.S. President Donald Trump says his country's military has begun its blockade of all Iranian ports
00:06in an effort to ramp up pressure on Iran to reopen the crucial Strait of Hormuz.
00:12Speaking at the White House on Monday, Trump accused Tehran of holding the global economy hostage
00:17as gas prices continue to run rampantly high, with Brent crude nearing the $100 a barrel mark again.
00:24The U.S. President, however, insisted that Iran very badly wants to make a deal,
00:30claiming that they've made contact with Washington to resume negotiations.
00:34We can't let a country blackmail or extort the world, because that's what they're doing.
00:42They're really blackmailing the world. We're not going to let that happen.
00:45We've been called this morning by the right people, the appropriate people,
00:50and they want to work a deal. They would like to work a deal.
00:53Iran stressed that illegal U.S. demands are preventing a deal from being struck.
00:57We attend in the negotiation with all experiences and all expertise and all experiences of the United States
01:11and the negotiations.
01:12We believe that if they avoid the unlawful demands and recognize our legitimate rights and interests,
01:27I think that the negotiation will be a success.
01:32Vessel tracking platforms say the U.S. blockade has caused at least two tankers approaching the Strait of Hormuz
01:38to turn back on Tuesday.
01:39The last six weeks, only Iranian vessels and some ships perceived as friendly have been allowed to pass for a
01:47considerable fee.
01:48The Trump administration says the blockade is designed to suffocate Iran into submission economically.
01:55Tehran has threatened to target all ports in the Persian Gulf and Gulf of Oman in retaliation to the U
02:01.S. escalation.
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