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The United States will implement a naval blockade on Iranian ports starting at 22:00 Beijing time on April 13th. The US Central Command also emphasized that ships traveling to and from non-Iranian ports can still pass through normally to maintain the operation of this crucial global energy market channel. This move aims to increase pressure on Tehran without completely closing the Strait of Hormuz, but it also raises the risk of Iranian retaliation and miscalculation. Analyst Eamonn Sheridan stated that this difference is crucial. The US is attempting to cut off Iran's direct maritime trade while trying to avoid a broader impact on global oil flow by completely closing the Strait of Hormuz. This marks a shift in US policy from diplomacy to mandatory economic containment. For the market, this situation reshapes the risk landscape. Rather than focusing on the binary scenario of "open or close" the Strait of Hormuz, attention is now turning to enforcement methods, the possibility of maritime miscalculation, and the sustainability of commitments to safe passage for non-Iranian shipping. This means that geopolitical risk premia will be more persistent and complex, especially in the energy market sector.