Israel is currently conducting a military campaign against the Iranian-backed proxy group Hezbollah in Lebanon.

Israel has stated that its military campaign against Hezbollah in Lebanon is not part of the ceasefire agreement with Iran.

Iran has publicly stated that it would not allow a US naval embargo in the Strait of Hormuz and that it has the leverage to counter it.

Bloomberg Geonomics analysts assess that a US naval blockade would place warships closer to Iranian drone and missile threats, creating a risk of a "dangerous escalation cycle."

The threatened US blockade of the Strait of Hormuz is considered more complex than a previous blockade of Venezuela due to the higher volume of international shipping traffic.

The current ceasefire involving Iran is set to expire on April 22.

The Houthis, a Yemen-based proxy group for Iran, have recently been active in the Red Sea.