Trump Proposes US Control of Strait of Hormuz Amid Tensions
US President Donald Trump announced plans for the US to assume control of the Strait of Hormuz, proposing a 20% cargo fee for ships transiting the waterway. This fee would amount to nearly $30 million for a fully loaded supertanker, significantly higher than Iran's previous charge of $2 million per journey. The US reinstated a naval blockade following attacks by Iran's Islamic Revolutionary Guard Corps on commercial vessels. The shipping industry has expressed skepticism regarding the proposed fee, citing a lack of prior information and questioning its impact on transit decisions. The UN has stated there is no legal basis for mandatory tolls on vessels in international straits. Both the US and Iran are vying for control over this crucial maritime chokepoint, which is vital for global oil and gas shipments.
Published 2 days ago • 13 Jul 2026, 06:17 PM IST