Trump reinstates Iran blockade, seeks 20% fee on Hormuz cargo
Why it matters: The move deepens a US-Iran clash that has disrupted a key oil route and driven up energy prices.
President Donald Trump said July 13 that the United States was reinstating a naval blockade on Iran and would seek reimbursement equal to 20% of all cargo shipped through the Strait of Hormuz. He said the process would begin immediately after Tehran kept the waterway closed following what it called an unauthorized transit. The strait is a critical route for global oil supplies, and the standoff has already lifted energy prices and sharpened inflation concerns. Iran’s Revolutionary Guards warned that continued US military intervention in the waterway could trigger wider disruption in the oil and gas sector. US and Iranian forces also traded missile and drone strikes over the weekend and into July 13.