India, April 18 -- Iran's military has reinstated restrictions on the Strait of Hormuz on Saturday, shuttering the world's most vital oil artery just hours after Trump declared that the free passage to commercial shipping through the strategic waterway would not be enough to lift the crushing US Navy blockade on Iranian ports.

The swift reversal of the blockade on the critical artery by Tehran has dashed hopes for de-escalation in a seven-week-old conflict that has roiled global energy markets.

In a statement, Iran's joint military command confirmed that "control of the Strait of Hormuz has returned to its previous state," placing the transit point under the "strict management and control of the [Iranian] armed forces."

Iran's military...