Vera Bergengruen

We saw the president threaten this massive blockade.

He said the U.S.

military will now basically be stopping ships and chasing them down.

That's a great question.

As of now, it is holding.

But again, I mean, what the president is threatening here is that in the course of instituting this blockade, there may also be some limited strikes, as some officials told us yesterday.

So if there's Iranian assets on either side of the shore...

targeting them, then they might take them out.

In that case, the ceasefire would definitely be considered to be broken.

We're in a weird position where technically both sides could accuse each other credibly of violating the ceasefire, but they don't seem eager to resume the fighting.

I think what it tells us is that this has become very centered on the global economy, on the straight.

When you remember how the war started, where Trump basically said Iranians take to the streets, he made it sound like it was about regime change.

And now we're in this extended back and forth about this critical waterway.

All of these countries around the world are having to really deal with economic consequences.

I think what that tells us is that we're now in this potentially prolonged, protracted conflict that isn't just military, it's economic.

And it's something that, in our reporting, everyone around Trump basically warned him might happen.

I just don't think they thought that would still be there.

So we've seen both sides talk past each other for the last couple of weeks when they've attempted to do some kind of peace negotiation.

The U.S.

has very maximalist demands.