NEW: US President Donald Trump announced that the US Navy will prevent all vessels from transiting through the Strait of Hormuz on April 12 after US negotiators left Islamabad without a US-Iran deal. Iran reportedly refused to concede its “control” over the Strait of Hormuz, which is Iran’s primary source of leverage, and would only open the Strait after a final peace agreement was made. Trump said that the US Navy will begin destroying the mines that Iran laid in the Strait. Iran is using the threat of its naval mines, of which there are reportedly fewer than a dozen, to keep the price of oil and shipping insurance as high as possible for as long as possible without conducting attacks that would cause the ceasefire to collapse. Trump also said that the United States will interdict every vessel that has paid tolls to Iran. Iran has been using the threat of attacks and naval mines to force ships to use Iranian territorial waters to traverse the Strait, which allows Iran to shakedown these ships for fees as part of a protection racket. The lack of progress in the negotiations is unsurprising—Iran is seeking an all-encompassing agreement that would transform the US-Iran relationship and end the threat of future conflict. Iran brought over 70 diplomats, parliamentarians, Islamic Revolutionary Guards Corps (IRGC)-adjacent figures, and high-level economic technocrats to the negotiations, which underscores Iran’s wide-ranging negotiating intentions. The United States seeks a much narrower agreement centered on the current war and the nuclear program. US Vice President JD Vance told reporters on April 12 that the United States is seeking reassurances that Iran will not attempt to quickly build a nuclear weapon. The US and Iranian negotiators did not reach an agreement on an Iranian counterproposal to US demands that Iran give up its highly-enriched uranium stockpile, according to Iranian officials. ISW-CTP will provide further analysis on the war with Iran in its April 12 Iran Update.