Donald Trump Unveils 20% Toll on Ships in Strait of Hormuz, Plans to Reinstate Iran Blockade
US President Donald Trump announced on Monday that the United States is reinstating a blockade on Iran in the Strait of Hormuz. As part of this action, the US will charge ships a 20% toll for safe passage through the strategically vital waterway. This decision follows a recent escalation in hostilities, including an Iranian attack on a container ship in the strait.
Trump stated that Iranian vessels would be barred from transiting the strait, emphasizing that the blockade is aimed solely at Iran’s ships. He asserted that all other nations would have “fair and open use” of the waterway. The toll collected will be used to cover costs associated with ensuring safety and security in the region.
Iran’s Position
Iran claims it has the right to regulate traffic through the Strait of Hormuz and may impose transit charges based on an interim peace agreement reached last month. However, the US and several other nations contest this claim, citing international law that guarantees freedom of navigation. In response to the tensions, the US military is working to establish alternative shipping routes outside of Iranian control.
As both sides approach the midpoint of a 60-day negotiation period aimed at reaching a permanent settlement to the ongoing conflict, attacks in the Strait of Hormuz have raised fears of a return to full-scale war. Oil prices initially surged nearly 5% on Monday but later receded. US benchmark crude was trading at approximately $72.92 after peaking at nearly $120 a barrel during the height of the conflict. The US military reported conducting strikes on multiple Iranian targets, asserting that Iran does not control the Strait of Hormuz.
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