Trump Insists U.S. Should ‘Run’ the Strait of Hormuz and Get Paid For It

Trump followed up by announcing that the U.S. is reinstating its blockade against Iran’s ships “or customers” from entering or leaving the Strait.

“All other countries will have fair and open use of the Strait. 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,” Trump told his Truth Social followers.

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

Trump’s remarks came after oil prices soared by more than 3% Monday morning, as the U.S. and Iran continued trading strikes over the weekend amid escalated tensions focused on the vital trade passage.

Brent crude, the international benchmark, neared $80 per barrel, a significant rise from the same time last week, when it traded at $71.99 prior to the renewed hostilities.