Trump Threatens Hormuz Tolls Amid Iran Strikes

The United States has initiated its third consecutive night of strikes on Iran, with former President Donald Trump announcing that Washington would reinstate a maritime blockade on the country and charge ships for safe passage through the Strait of Hormuz. This development follows an incident where two United Arab Emirates (UAE) national tankers were targeted by two Iranian cruise missiles in Omani territorial waters within the southern lane of the strait. The attack resulted in the death of one Indian crew member and injured eight others, four of whom sustained serious injuries.

This escalation occurs amidst a fragile interim deal intended to pave the way for permanent peace talks, which began in February following the assassination of Iran's supreme leader, Ali Khamenei. The deal has largely disintegrated into a series of retaliatory attacks centered on the Strait of Hormuz, leading to the near-complete collapse of an interim ceasefire and raising concerns among global leaders about a potential full resumption of the conflict.

Former President Trump's new stance involves demanding a 20% tariff on all cargoes transiting the Strait of Hormuz. Previously, the US had advocated for the strait's unrestricted access without tolls, a principle upheld before the US and Israel launched attacks on Iran on February 28. Both the US and Iran have now proposed imposing fees, actions that would contravene international norms regarding freedom of navigation and could lead to significant economic disruptions extending beyond the immediate region.