Trump restores blockade of Iranian ships in the Strait of Hormuz, plans to impose a 20% fee on cargo transiting the waterway

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 entering or exiting via the strait, while ships of other nations will still be permitted to pass, but a 20% fee will be levied on the total value of all cargo they carry. The U.S. Central Command stated that the blockade will take effect at 4:00 PM Eastern Time on July 14.

In response to the escalating U.S.-Iran situation, international oil prices have risen, with Brent crude surging approximately 10% to around $83.63 per barrel at one point. 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)