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Posted Zero Hedge
Summary
- Trump says US blockade of Iran ports ‘reinstated’: states that US to be reimbursed at rate of 20% of cargo shipped for vessels wishing to transit.
- Strikes escalated over weekend: US hit over 140 Iranian military targets; Iran attacks US-linked facilities across the Gulf.
- Shipping tensions boil: Iran claims the strait is closed, but commercial vessels continue transiting under US protection.
- Oil prices climb: on rising risk to global shipping & energy markets, as diplomacy clearly unraveling.
Trump: Blockade Reinstated, US To Be ‘Reimbursed’ on 20% of Cargo
A stunning new Trump statement via Truth Social, proposing that the United States will collect an astounding rate of 20% of cargo shipped for vessels wishing to transit the Strait of Hormuz. He has declared the US military is “reinstating the Iranian blockade” due to the IRGC continuing to try and enforce Iran’s own protocol. This could of course amount to a US ‘fee’ of tens of millions of dollars for each vessel, significantly more than what Iran was seeking to impose. Iran’s retaliation continues? New reports of major incident in Saudi Arabia:
Tasnim reports of an attack on Abha International Airport in Saudi Arabia
Oil jumps this morning on the bellow succession of headlines…
- IRAN’S REVOLUTIONARY GUARDS SPOKESPERSON: WE CONTINUE TO ASSERT OUR AUTHORITY AND CONTROL OVER THE STRAIT OF HORMUZ
- TRUMP: REINSTATING THE IRANIAN BLOCKADE
- TRUMP: US WILL BE REIMBURSED 20% ON CARGO FROM HORMUZ
Trump: US to Take Over Strait & Get Paid For It
President Trump in surprising commentary issued to “Fox & Friends” has said the United States will probably take over the Strait of Hormuz and should be reimbursed for controlling it. His words have raised eyebrows given Washington’s stance has been that no one can collect tolls for transit through the vital international waterway. He said once the US gains control of it, following a weekend bombing campaign on Iranian coastal sites, “we’ll probably run it” and “we should be reimbursed for that.”
“We’re going to keep the strait, and we’ll probably run it. We’ll become the guardian of the strait. Maybe we’ll call it the guardian angel of the strait. And we should be reimbursed for that,” he says in the Fox phone interview.
Again, US officials have throughout Operation Epic Fury voiced that it is an illegal outrage for Iran to suggest it would charge fees, but now…
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Below is a fuller transcript of the Monday morning exchange:
Fox: It looks like they’re back to trying to take control of the Strait, what’s your response?
Trump: Well, we’re taking over the straight. They have nothing, they’ve got nothing. So…. something that nobody knows, yesterday they had an eleven hour meeting, everything’s eleven hours with these guys you know you can’t settle a one sentence in, one hour, in one minute… It should be one minute—But we had a deal, but nobody knows, we had a deal, it was a done deal, but then they broke it, they always break it. And so we’re just going to hit them very hard. And we’re gonna keep the uh Strait, and we’ll probably run it, we’ll become the guardian of the Strait, maybe we’ll call it “The guardian angel of the Strait”. And we should reimbursed for that, when we do that we’re gonna be reimbursed because the other nations are very wealthy, they’re on our side. We guarded the Strait for 50 years, more, and, we never got paid for it. They made all the money and the US was just, you know, not, it’s just amazing. We guarded it for nothing.
The Iranians have been quick to respond, with its top military command asserting that Iran will not allow the US to intervene in the management of the strait. State-run IRNA also states:
Iran says we will not be forced to pay the ‘enemy’ for ship passage.
So this sets up the warring sides for further clashes in the Persian Gulf region, as absolutist demands continued to be adhered to, and red lines continue to be tested and blown past. Below is more from the Iranian Foreign Ministry articulating enforcement of its passage protocol:
