President Donald Trump announced Monday that the United States is reinstating its naval blockade of Iran while introducing a new policy requiring cargo passing through the Strait of Hormuz to pay a 20% fee for the protection provided by the U.S. military.

The move follows Iran’s attempt to impose its own tolls on commercial shipping using the strategic waterway, which had operated without transit fees before the United States and Israel launched military operations against Iran on February 28.

Announcing the new policy, Trump declared, “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.”

He added, “The process and formation will begin immediately.”

The latest developments come after U.S. forces carried out major strikes over the weekend against Iranian military assets in an effort to restore freedom of navigation through the vital oil shipping corridor.

Late Sunday, U.S. Central Command (CENTCOM) announced that American forces had struck dozens of Iranian targets, including missile launchers, drone capabilities, small naval vessels, coastal radar installations, and air-defense systems.

Earlier in the conflict, the United States had imposed a naval blockade on Iran but lifted it before signing a 14-point Memorandum of Understanding with Tehran in mid-June.

Under that agreement, commercial vessels traveling through the Strait of Hormuz were guaranteed “safe passage” and exempted from transit fees for a 60-day period while American and Iranian negotiators worked toward a broader agreement to end the conflict.

The memorandum stated: “The Islamic Republic of Iran will conduct dialog with the Sultanate of Oman to define the future administration and maritime services in the Strait of Hormuz in discussion with other Persian Gulf or littoral states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.”

Despite the temporary agreement, negotiations eventually collapsed after the U.S. lifted its blockade.

Iran subsequently announced that ships “will not be covered by safe passage guarantees and will not benefit from insurance coverage or associated liabilities” unless they traveled through maritime routes specifically authorized by Tehran.

According to the report, Iran had initially hoped to generate as much as $40 billion annually through the toll system in cooperation with Oman, but Omani officials declined to support the proposal.

In recent weeks, U.S. Central Command has coordinated with the International Maritime Organization to escort commercial vessels through the southern shipping lane of the Strait of Hormuz, which runs along Oman’s coastline.

Tensions escalated again after Iran reportedly opened fire on commercial vessels, disrupting maritime traffic and derailing the ongoing diplomatic negotiations.

A U.S. official said Friday, “What we’re demanding is that the Iranians issue a public statement that acknowledges all channels of the Strait of Hormuz are open, and they’re not shooting at ships anymore.”

The official added, “They’re either going to give us that statement, or we’re not going to have a good outcome.”

{Matzav.com}