Donald Trump declared that the United States would take on the role of "THE GUARDIAN OF THE HORMUZ STRAIT" and, in return for providing safety and security, would be reimbursed at a rate of 20% on all cargo shipped through the waterway. He stated this process would begin immediately. This move includes reinstating the "IRANIAN BLOCKADE," which is specifically aimed at preventing Iranian ships or their customers from entering or leaving the Strait, while allowing other countries "fair and open use."
This announcement followed a breakdown in peace negotiations between the US and Iran and renewed attacks, with Iran reportedly striking US military sites in Bahrain, Kuwait, Oman, and Jordan, and US forces targeting Iranian coastal cities. The Strait of Hormuz is a critical global chokepoint, through which roughly 20% of the world's oil and gas exports flowed before the current conflict. Oil prices initially reacted to the news, seeing a nearly 5% jump, though US benchmark crude was trading around $72.92 a barrel at the latest reporting, down from a peak of nearly $120 during the height of the war.
International bodies and former US officials have expressed opposition to such tolls. The UN's International Maritime Organization (IMO) stated it "stands firmly against charging fees for passage through straits used for international navigation," asserting there is "no legal basis" for such mandatory tolls. Even Trump's own former Secretary of State, Marco Rubio, had previously rejected the idea of any country charging tolls on international waterways, citing existing international law. Iran, however, had also previously suggested it had the right to charge fees, based on a vaguely worded memorandum of understanding.
