Trump scraps threat of 20% fee on Hormuz cargo as US resumes blockade of Iran ports
Centcom had previously announced a third night of attacks for the same purpose, and on Tuesday Iranian state media reported explosions in several cities, including Bushehr, where the nuclear power plant is located.
Tehran said it targeted US military facilities in Bahrain and Jordan after previously striking two United Arab Emirates tankers.
The ongoing attacks underlined the strategic importance of the strait. Iran accuses the United States of interfering in the administration of Hormuz; But controlling it means Tehran could also threaten the global economy.
On Monday, Trump announced that the United States is now the “custodian” of the Strait of Hormuz and promised to impose a 20% fee on all cargo sent through the waterway to protect the Strait of Hormuz.
Further raising the stakes, Trump said the United States would reimpose a naval blockade on Iran in an attempt to further squeeze the country’s struggling economy.
In his latest post on Truth Social, Trump wrote: “I have decided to replace the 20% US Reimbursement Fee with Trade and Investment Agreements between the various Gulf States to the US.
“These Investments will be BIG, but they will also be extraordinarily good for them and their future.” The US president did not provide further details.
He also said that the strait is “open to ALL ship traffic except Iran” and that “oil is flowing like never before, thanks to the formidable Power of the United States Military.”
Speaking after his meeting with Iraq’s new Prime Minister Ali al-Zaidi in Washington, Trump said: “I don’t like the concept of fees, but at the same time, it’s not fair that we have to protect this Strait for the whole world.”
He said he changed his initial compensation plan after receiving numerous calls from Gulf leaders.
In response to Trump’s statement, Iran said it would retain control of the Strait of Hormuz.
Iranian Deputy Foreign Minister Kazem Gharibabadi said Trump’s blockade decision “kind of destroyed” the previously agreed ceasefire agreement, AFP news agency reported.
The United States first imposed a naval blockade on all Iranian ports in April in order to put pressure on Tehran. About five weeks later, the U.S. military said it had diverted 100 merchant ships and disabled four during the blockade.
The United States lifted the blockade in June as part of an agreement between the two countries known as a memorandum of understanding aimed at ending the conflict, but the dispute over the strait has become a major point of contention.
Meanwhile, shipping data show that traffic in the Bosphorus has fallen to its lowest level in two months. The benchmark Brent Crude oil price also increased sharply.
Iran effectively closed the waterway, through which 25 percent of the world’s oil and 20 percent of global liquefied natural gas previously passed, after the United States and Israel attacked Iran on February 28.
Separately on Tuesday, Israeli Prime Minister Benjamin Netanyahu warned that his country’s retaliation against Iran would be “much stronger” if Iran was attacked first.
“I will say this to Iranian leaders: If you attack us, don’t count on anything to stay quiet,” he said in a video posted on social media.
