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Trump Compares Navy to “Pirates” as US-Iran Maritime Blockade Tightens and Oil Prices Surge

US President Donald Trump has drawn controversy after comparing the US Navy’s actions in the Persian Gulf to piracy, as American forces continue enforcing a sweeping naval blockade on Iranian ports amid an escalating conflict that has disrupted global energy markets.

“We took over the ship, we took over the cargo, we took over the oil. It’s a very profitable business,” Trump said on Friday evening while describing a recent seizure of an Iranian-linked vessel. “We’re sort of like pirates, but we are not playing games.”

The remarks come as the United States maintains a naval blockade of Iranian maritime routes, introduced last month following the collapse of peace negotiations between Washington and Tehran. The move followed Iran’s decision to restrict access to the Strait of Hormuz, a vital shipping corridor through which roughly one-fifth of the world’s oil and liquefied natural gas previously passed.

The maritime crisis escalated after a US-Israeli military operation on February 28 triggered a wider conflict, resulting in thousands of civilian casualties. In response, Iran initially closed the strait to commercial traffic before later allowing limited passage for allied and non-combatant nations under a fee-based system.

US authorities say the blockade extends to all vessels attempting to enter or exit the strait if they have paid charges to Iran. According to US Central Command (CENTCOM), American forces have redirected dozens of ships in recent weeks to enforce the restrictions.

Adm. Brad Cooper, CENTCOM commander, said that by late April more than 40 commercial vessels carrying tens of millions of barrels of oil had been turned away. He estimated that Iran had lost more than $6 billion in potential revenue as a result of the disruption. Officials later confirmed that additional vessels have been intercepted, bringing the total number redirected since mid-April to 45.

Trump announced the blockade on social media, stating that US forces would prevent “any and all ships” from entering or leaving the Strait of Hormuz until Iran fully reopened the route to international traffic.

The disruption has had immediate global economic consequences. Oil prices have surged sharply, with fuel costs rising across major economies. In the United States, average gasoline prices reached $4.39 per gallon on Friday, according to AAA data. Aviation fuel costs have also doubled since the conflict began, contributing to financial pressure on airlines.

On Saturday, budget carrier Spirit Airlines became the first US airline to suspend operations, citing unsustainable fuel expenses linked to the crisis.

As tensions continue in the Gulf, the blockade’s economic and geopolitical impact is intensifying, with no immediate resolution in sight.

Business

Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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Business

Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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