Ships passing through the Strait of Hormuz face a 20 percent
“safe passage” fee under a proposal by the United States.
The levy, announced by President Donald Trump in a Truth
Social post on Monday, would help cover the cost of maintaining security in the
strategic waterway.
“All other countries will have fair and open use of the
Strait,” he said.
“The U.S.A. will be, from this point forward, known as ‘THE
GUARDIAN OF THE HORMUZ STRAIT,’ but as such, and as a matter of FAIRNESS, will
be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs
necessary to do the job of providing safety and security to this very volatile
section of the World.
“The process and formation will begin immediately.”
Trump’s announcement comes as the US resumed strikes against
Iran in a disintegration of the ceasefire agreement between both countries.
The US president has vowed to hit Iran “very hard”,
criticising Tehran for failing to agree to a deal.
Over the weekend, the US Central Command (CENTCOM) said it
hit 140 targets. The strikes continued into Monday afternoon, hitting
infrastructure and killing civilians.
Iran accused the US of undermining talks with Oman on
ensuring safe passage through the strait and has since retaliated with strikes
against US facilities in neighbouring Gulf countries.
The latest escalation has sent oil prices surging through
the roof. Brent crude, the global oil benchmark, climbed 3.60 percent to $78.7
a barrel, up from its recent low of around $70 a barrel.
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