Iran on Monday released a meme mocking US President Donald Trump’s announcement of a blockade earlier that day, calling it “break the enemy’s blockade by stopping his blockade.”Along with the meme, Iran also took a dig at Trump by writing in his style. “Trust me, I 100 percent have a PhD, okay? From the best college in the world. The best. Totally real. Everyone knows it.” And frankly, you will thank me very much for educating you. No one can give better education than me,” he wrote.It comes after Trump threatened to block the Strait of Hormuz after talks with Iran failed over the weekend, threatening to escalate the conflict now entering its seventh week, sending oil prices rising and raising fears of fresh global economic tensions.The US military said it would begin blocking all maritime traffic from Iranian ports from Monday (Washington time), while allowing ships to pass through the strait if they are not docking in Iran. Tehran immediately rejected the move, with senior adviser Mohsen Rezaei warning that Iran “will not allow” such a sanction and would retain “significant unused leverage” to counter it.The escalation comes after the breakdown of marathon talks in Pakistan, casting doubt on the fragile ceasefire agreed just days ago. Talks led by US Vice President JD Vance and Speaker of the Iranian Parliament Mohammad Bagher Ghalibaf failed over disagreements over the future of Iran’s nuclear program.Speaking on Sunday, Trump signaled disinterest in reviving diplomacy and claimed Washington had already achieved key military objectives, including reducing Iran’s missile and drone capabilities.“If they don’t come back, I’m fine,” he said.Earlier, he took a more aggressive tone by declaring that the US was “locked and loaded” and ready to “eliminate” Iran’s remaining military capabilities. He warned of retaliation against any resistance, saying that any attack on American forces or commercial ships would be responded to with overwhelming force.The development threatens to prolong the war, which has already killed thousands and disrupted global energy markets. Oil and gas prices rose on Monday, with Brent crude jumping more than 9% to near $104 a barrel, while European gas futures rose sharply. Traders and refiners around the world are struggling to secure immediate crude supplies due to reduced physical flows.The Strait of Hormuz – through which about a fifth of the world’s oil and liquefied natural gas passes – remains the most important artery for global energy. A complete blockade would severely disrupt remaining shipments and add pressure to already volatile markets.According to Bloomberg, while blockades can be strategically decisive, their economic impact is rarely immediate. The current ceasefire is due to expire on April 22, although tensions are at risk of it collapsing sooner. Iran’s Islamic Revolutionary Guard Corps warned that any foreign military presence near the strait would be viewed as a violation.Traffic through Hormuz has already slowed considerably since the US and Israeli attacks began in late February, with Iran tightening controls and imposing conditions on the route. While the US has the ability to enforce a blockade, analysts warn it carries serious risks – including direct exposure of US warships to Iranian missile and drone attacks and the possibility of Iran-backed groups such as the Houthis getting involved.With allies hesitant to join the operation and global markets on the sidelines, the threat of a blockade itself could prove as consequential as any action on the water – reducing the already shrinking space for diplomacy as well as increasing the risk of miscalculation.