Trump: US will charge 20% of cargo value for ensuring security of the Strait of Hormuz

US President Donald Trump announced that Washington will receive compensation amounting to 20% of the value of all transported cargo for ensuring the security of the Strait of Hormuz.

He wrote about this on Truth Social.

"The Strait of Hormuz is OPEN, and will remain open - with or without Iran. We are reinstating the IRANIAN BLOCKADE, so named because it only pertains to ships of Iran, or its customers, who will be prohibited from entering or leaving. All other countries will have fair and free access to the Strait," he wrote.

According to Trump, the US will henceforth be called the "Guardian of the Strait of Hormuz," and the payments will be directed toward covering expenses related to ensuring the security and protection of this "extremely unstable region of the world."

"The process and establishment of the corresponding mechanism will begin immediately," he added.