Iran Blockade Back, Now U.S. to Charge 20% Hormuz Transit Fee

President Trump tonight announced the  blockade of Iranian ports would return and that the U.S. will charge a fee to provide security for cargo vessels to transition the Strait of Hormuz, both measures would be effective immediately.

Iran has not immediately responded to the U.S. announcement.

The blockade would impact only  vessels going into and returning from Iranian ports; while all other ships transiting through the Strait of Hormuz would be allow to go unimpeded. The transit fee would amount to 20% of the cargo value, he announced.

“The USA, 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 a 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.”

Iran had earlier threatened to implement transit and navigational service fees on ships passing through the Strait of Hormuz, with reports suggesting they aim to generate tens of billions annually.However, the rate is not yet decided.