Trump reinstates Iran port blockade and vows 20% charge on cargo passing through Hormuz
President Donald Trump has announced a naval blockade of Iranian ports and a 20% cargo tax on ships passing through the Strait of Hormuz. This move follows a series of military strikes between the US and Iran, with the US declaring itself the new guardian of the waterway.
Why it matters
This escalation significantly threatens global oil supply chains and increases the risk of a major military conflict in the Middle East.
Image source, NurPhoto via Getty Images Image caption, President Donald Trump also said the US will impose a 20% charge on all Strait of Hormuz cargo
President Donald Trump has said the US is reinstating a naval blockade of Iranian ports and will impose a 20% charge on all cargo shipped through the Strait of Hormuz following days of escalating strikes between the two countries.
He said this would stop "Iran's ships or customers" from entering or leaving the key oil shipping route, but "all other countries will have fair and open use of the Strait". The blockade will be in effect from 16:00 Eastern Time (20:00 GMT) on Tuesday.
Iran's foreign minister later said whoever provides safe passage "should be compensated for this service", but Iran would remain the strait's "GUARDIAN" - using Trump's word.
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