US President Donald Trump has renewed a naval blockade on Iran and again threatened to take control of the Strait of Hormuz, demanding a 20% tariff on all cargo shipped through the strategic waterway. In a post on his Truth Social platform, Trump declared the strait "open" and suggested the US should be known as the "Guardian of the Strait of Hormuz." The announcement came amid some of the heaviest drone and missile exchanges between the US and Iran since an interim ceasefire deal was negotiated.
US-Iran Military Exchanges Intensify
On Monday, Iran's Islamic Revolutionary Guard Corps (IRGC) accused the US of jeopardizing global oil and gas supplies by interfering in the strait, threatening that any US moves would be "strongly contested." IRGC spokesperson Hossein Mohebi stated that Washington had "seriously endangered the security of the world's oil and gas supply and must be held accountable," adding that Tehran would "continue to exercise sovereignty over and management of the Strait of Hormuz."
The US military reported striking Iranian air defence systems, coastal radar sites, missile and drone capabilities, and small boats on Sunday using aircraft, naval vessels, and drones. In response, the IRGC claimed to have targeted US military facilities in Bahrain and Kuwait, destroyed radar systems in Oman, and hit fuel tanks and ammunition depots at Prince Hassan airbase in Jordan. Loud explosions were heard on Iran's Qeshm Island and in the port city of Bandar Abbas on Monday morning.
Trump's Stance and Economic Implications
In a phone interview on Fox News, Trump said the US would probably take over the strait and should be reimbursed for controlling the waterway. "We're going to keep the strait, and we'll probably run it. We'll become the guardian of the strait. Maybe we'll call it the guardian angel of the strait. And we should be reimbursed for that," he said. Trump earlier stated the US was "beating up" Iran while leaving the door open for further talks.
Brent crude oil prices rose more than 3% on Monday, though they remained below peaks reached earlier in the conflict. The war, which began in February with the assassination of Iran's then supreme leader Ayatollah Ali Khamenei in US-Israeli airstrikes, has caused global economic shockwaves, driving energy prices higher and fuelling inflation. Higher petrol prices are politically sensitive for Trump ahead of November's US congressional elections.
Diplomatic Efforts Falter
The interim deal, intended to set up talks for a permanent end to the war, has devolved into a series of attacks over the Strait of Hormuz. UN Secretary General António Guterres warned that "a return to full-scale hostilities would have catastrophic consequences." Iran's strikes on Sunday extended to Qatar, a mediator in ceasefire talks, and the United Arab Emirates, which had not been targeted since early May, reported engaging Iranian missiles and drones.
Iran's foreign ministry condemned the latest US attacks, stating they had "rendered futile all efforts of the past few months to reduce tension and establish peace in the west Asian region." The ministry also said talks between Iran and Oman on Saturday, focused on managing the strait and transit routes, failed to reach a deal due to "overt and covert" US pressure on Muscat.
Strait of Hormuz Tensions
Iran has sought to establish a permanent system for collecting fees in the strait, through which a fifth of the world's oil and liquefied natural gas shipments transited before the war. Its recently created Persian Gulf Strait Authority stated on Sunday that passage through the strait was not possible due to what it called illegal US military movements, adding that permits would be issued "as soon as stability and calm are restored."
The US, which revoked a licence authorizing the sale of Iranian crude oil after earlier attacks on shipping, said its forces were positioned to safeguard freedom of navigation despite what it described as "aggression, harassment, threats and arbitrary declarations" from Iran. The US Navy-led Joint Maritime Information Center reiterated guidance that an "expanded" southern route near Oman was available for two-way traffic despite the severe security threat.
