US President Donald Trump announced on Monday that the United States would impose a 20 per cent levy on all cargo passing through the Strait of Hormuz, while re-imposing a blockade on Iranian ports. The Strait, he said, would remain open 'with or without' Iran, the Guardian reports.
Trump stated that the US would act as 'guardian of the Strait of Hormuz', with the levy described as compensation 'for all costs required to provide security in this volatile part of the world', CBS News reports. The blockade, he added, applies exclusively to Iranian ships and their clients, while 'all other countries will have fair and open access to the strait'.
The announcement comes amid a fresh wave of mutual attacks. The US has launched a new round of air strikes on Iran, with Tehran stating that diplomacy has 'proven futile', the Guardian reports. Iran had previously stated that it had targeted US military installations and infrastructure in Bahrain, while the Bahraini military accused Tehran of targeting civilians with missiles and drones, and stated that its air defence system had intercepted multiple attacks.
Tensions escalated further on Saturday, when Iran struck a container ship near the western entrance to the strait, to which the US responded with air strikes, CBS News reports. The Iranian authority for the strait declared the passage 'currently impassable' due to US 'hostile moves', while traffic of tankers through the strait has almost come to a standstill.
The US and Israel launched a joint military campaign against Iran late in February. A ceasefire memorandum was signed in mid-June, which explicitly prohibited the charging of fees for the passage of commercial vessels, yet Trump declared the ceasefire over last week. The Iranian embassy in Washington, on the other hand, claims that the United States has violated the agreement 'from day one'.
Following Trump's announcement, oil prices have surged, while stock indices have fallen, according to US media.
