Trump restores blockade on Iranian ships in the Strait of Hormuz, plans to impose a 20% fee on cargo passing through
Odaily Planet Daily News: U.S. President Trump announced the restoration of a blockade on ships traveling to and from Iranian ports through the Strait of Hormuz. Iranian vessels will be banned from transiting the strait, while ships from other countries may still pass but will be subject to a 20% fee on the total value of their cargo. The U.S. Central Command stated that the blockade will take effect at 4:00 PM EDT on July 14.
Amid escalating tensions between the U.S. and Iran, international oil prices have risen. Brent crude oil briefly surged approximately 10%, reaching around $83.63 per barrel. The U.S. government has yet to announce the specific mechanism for implementing the 20% fee. The International Maritime Organization has voiced opposition to the imposition of transit fees on international navigation straits. (BloomBerg)
