Trump reinstates Iran port blockade, vows 20% charge on cargo through Hormuz

US President Donald Trump has announced the reinstatement of a naval blockade targeting Iranian vessels in the Strait of Hormuz, a crucial global shipping lane. The move, declared on Monday, July 13, 2026, also involves plans to impose a 20% fee on commercial ships for safe passage through the waterway, with the U.S. positioning itself as "THE GUARDIAN OF THE HORMUZ STRAIT". This development comes amidst heightened tensions between the United States and Iran, following previous exchanges of fire and failed peace negotiations.

The decision has been met with immediate backlash from Iran, whose newly established "Strait Authority" swiftly declared the Strait of Hormuz closed due to what it termed "hostile actions by the US forces". Oil prices surged by nearly 5% following the announcement, with benchmark crude nearing $80 a barrel, reflecting concerns over disruptions to global oil supplies. Both nations have engaged in a series of tit-for-tat strikes, with the U.S. carrying out attacks on Iranian military targets and Iran claiming retaliatory strikes on U.S. allies in the Persian Gulf region.