President Donald Trump declared on Monday that the United States is reinstituting a blockade on Iran within the Strait of Hormuz. He stated that the U.S. will act as "the guardian" of the Strait and will collect a 20% fee on all cargo shipped through the waterway. Trump emphasized that this charge is a "reimbursement" for the costs incurred in providing safety and security in the volatile region, particularly after Iran effectively shut down the strait, driving up global energy prices. He announced this initiative on social media, stating "THE IRANIAN BLOCKADE" is being reinstated and other countries will have "fair and open use" of the Strait, with or without Iran's cooperation.
The announcement led to an immediate spike in oil prices, with Brent crude rising by more than 3% on Monday. The Strait of Hormuz is a crucial global chokepoint, with roughly a fifth of the world’s oil and gas typically passing through it. The escalating tensions and Trump’s decision cast significant doubt on an interim peace deal reached last month between the U.S. and Iran, which aimed to reopen the strait and halt hostilities. This agreement had previously led to a temporary lifting of a U.S. blockade and an increase in traffic, though still below pre-war levels.
While the U.S. had previously advocated for the strait to remain open without tolls, Trump's new policy asserts that the U.S. will be reimbursed for its security efforts. This move has drawn criticism, with entities like the International Maritime Organization stating there is "no legal basis" for mandatory tolls for transit through international waterways. Secretary of State Marco Rubio had also previously voiced strong opposition to any fees for using international waters, highlighting that there is "zero support among the Gulf countries" for such charges. Iran, however, maintains its right to manage traffic and potentially charge fees, citing the interim peace deal as justification.
