.

I think I've also solved the problem (for my own save game at least).

I had a whole bunch of Privateers that were blockading different ports. Upon declaration of war, a whole lot of trade routes had to be recalculated which made it (appear to) freeze. Solution was to temporarily unblock all ports, then declare war, then blockade everything again. It's slightly annoying since I have 8 or 9 harbors blockaded.
 
I had a whole bunch of Privateers that were blockading different ports. Upon declaration of war, a whole lot of trade routes had to be recalculated which made it (appear to) freeze.
The only game I've used blockade, it looked like the game was hanging, but after a handful of minutes I could play on.
 
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