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US to reinstate naval blockade of Iranian ports, charge 20% on Hormuz cargo
The blockade is set to begin at 16:00 ET Tuesday and UN shipping officials said there is no legal basis for mandatory tolls on strait passage.
BBC Business reports President Donald Trump said the US will reinstate a naval blockade of Iranian ports and impose a 20% charge on cargo shipped through the Strait of Hormuz. He said the move would deter Iran's ships or customers from entering or leaving the oil shipping route, while other countries would have open use of the strait.
The blockade is scheduled to take effect at 16:00 Eastern Time on Tuesday, following a series of clashes between Tehran and Washington in the region. BBC Business notes the US said it carried out strikes against military targets in Iran, and Iran said it responded by striking US military bases in Kuwait, Jordan and Bahrain, and radars in Oman.
In comments attributed to Trump’s Truth Social post, the US president said the strait “will remain OPEN, with or without Iran,” and argued the US would be reimbursed at the rate of 20% on cargo for costs to provide safety and security. BBC Business also cites a US Central Command statement saying its forces will resume blockading maritime traffic entering and exiting Iranian ports on 14 July.
Iran’s foreign minister, Abbas Araghchi, said whoever provides safe passage should be compensated, while BBC Business reports an International Maritime Organization spokesperson said the UN agency stands against charging fees for passage through straits used for international navigation, adding there is no legal basis for mandatory tolls simply to transit a strait.