Welcome to the Guardian’s continuing coverage of the US-Israel war on Iran and its consequences for the wider region, the world and the global economy.

Here are the main developments:

• Trump said the US Navy would start blockading the Hormuz strait and would also interdict every vessel in international waters that had paid a toll to Iran. In a lengthy post on his Truth Social platform, the president said the US was going to start “BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz”.

• In another post Trump also claimed Iran had “knowingly failed” to make good on its promise to open the strait, causing “anxiety” and “pain” for many countries around the world.

• US Central Command (Centcom) announced it would begin its blockade of the strait beginning Monday morning. “Centcom forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports on April 13 at 10am ET [1400 GMT], in accordance with the president’s proclamation.”

• Iran’s Revolutionary Guard warned that “approaching military vessels to the strait of Hormuz is considered a violation of the ceasefire”.

• Oil prices rose in early market trading after Trump’s blockade announcement. The price of US crude oil rose 8% to $104.24 a barrel and Brent crude oil – the international standard – rose 7% to $102.29. Australia’s share market dropped sharply on Monday morning.

• Donald Trump and his advisers are looking at resuming limited military strikes in Iran in addition to the US blockade of the strait of Hormuz, the Wall Street Journal is reporting, citing officials and people familiar with the situation.

• Trump launched a scathing attack on Pope Leo XIV, saying he was “weak on crime and terrible for foreign policy” and was hurting the Catholic church. “Leo should get his act together as Pope,” the president said on Truth Social. The attack came after Leo denounced the “delusion of omnipotence” as fuelling the US-Israel war in Iran and demanded political leaders stop and negotiate peace.

• Australian prime minister Anthony Albanese said his government had not been asked to participate in any US blockade of the strait of Hormuz and that he wanted to see negotiations between the US and Iran continue.

• Trump reiterated his threat to destroy Iran’s power plants and other civilian energy infrastructure if no deal was reached to end the war, which he started with Israel in what is widely seen as an illegal and unprovoked attack. “I could take out Iran in one day,” he told Fox News on Sunday.

• Trump also said the US didn’t need the strait. “We don’t get our oil from there. We have so much oil,” he told Fox. “We have boats pouring up to the United States … We don’t need the strait.”

• Iranian parliamentary speaker Mohammad Bagher Ghalibaf, who led the Tehran side in the US talks, said Trump’s new threats would have no effect on the Iranian nation. “If you fight, we will fight, and if you come forward with logic, we will deal with logic. We will not bow to any threats.” He later taunted Trump on X, posting: “Enjoy the current pump figures. With the so-called ‘blockade’, Soon you’ll be nostalgic for $4–$5 gas.”