By announcing a new naval operation to provide security for vessels to transit the Strait of Hormuz, President Donald Trump had “effectively” admitted that his naval blockadeof the critical shipping waterway was a failure, Bloomberg columnist Javier Blas argued on Monday.

“The pushto re-open the Strait of Hormuz today, with two US warships crossing it and two US-flagged merchant vessels, signals the White House realizes it cannot keep waiting for the blockade to force Iran int