The Pentagon says the U.S. naval blockade in the Gulf of Oman has cut off about $4.8 billion in Iranian oil revenue.

INTELLIGENCE SUMMARY

The Pentagon says the U.S. naval blockade in the Gulf of Oman has cut off about $4.8 billion in Iranian oil revenue. Since mid-April, dozens of ships have been turned away and more than 30 oil tankers are stuck at sea, leaving Iran short on storage and forcing it to use older vessels just to hold excess oil. Some shipments are still getting through by taking longer, riskier routes to China, but at higher cost. Source: Axios