Trump Reinstates Iran Port Blockade and Adds 20% Hormuz Cargo Charge
The White House says it will blockade Iranian ports again and levy a 20 percent charge on every cargo shipment passing through the Strait of Hormuz.
President Donald Trump said Washington will reinstate a blockade on Iranian ports and impose a 20 percent charge on all cargo moving through the Strait of Hormuz, sharply raising the stakes in the Gulf standoff.
The announcement lands as tankers already face soaring war risk insurance premiums, and as shippers weigh longer routes to avoid the chokepoint entirely.
What the measures cover
The plan pairs two moves that hit Iran and global trade at the same time.
Why the strait matters
The Strait of Hormuz is one of the busiest energy corridors on earth. Any friction there tends to push crude prices up within hours, and insurers respond by lifting premiums on every hull that passes through.
The wider standoff
The measures follow weeks of tit for tat strikes between the United States and Iran, with Gulf states caught in the middle. Diplomats warn that a formal charge on transit could invite retaliation and further squeeze supply.
Traders will now watch whether allies enforce the surcharge or push back on a policy that raises costs for every economy that imports oil.
