Trump has reinstated the blockade of Iranian ships in the Strait of Hormuz and plans to impose a 20% fee on cargo passing through the strait.

Odaily Planet Daily News: U.S. President Trump has announced the reinstatement of the blockade of vessels traveling to and from Iranian ports through the Strait of Hormuz. Iranian ships will be banned from entering or exiting the strait, while ships from other countries can still pass, but a 20% fee will be imposed on the total cargo value they carry. The U.S. Central Command stated that the blockade will take effect at 4:00 PM Eastern Time on July 14.

Amid the escalating situation between the U.S. and Iran, international oil prices have risen, with Brent crude once surging about 10% to around $83.63 per barrel. Currently, the U.S. government has not yet announced the specific implementation method for the 20% fee. The International Maritime Organization has expressed opposition to charging transit fees for international navigation straits. (BloomBerg)