The Economic Times

US to charge 20% on Strait of Hormuz cargo, says Trump; reinstates naval blockade on Iran

President Donald Trump announced the United States is reinstating a naval blockade on Iran. He stated the U.S. will be reimbursed twenty percent on all cargo shipped through the Strait of Hormuz. Iran claimed it had closed the vital waterway following an unauthorized transit. U.S. and Iranian forces exchanged missile and drone attacks over the weekend. This escalation casts doubt on a recent interim agreement to reopen the strait.