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17:58
Trump Drops Hormuz Transit Fee, Turns to Gulf Investment Deals
US President Donald Trump
US President Donald Trump has walked back his plan to charge a 20 percent fee on cargo shipped through the Strait of Hormuz, replacing it with proposed trade and investment agreements with Persian Gulf states.
The reversal came a day after Trump said the United States would act as THE GUARDIAN OF THE HORMUZ STRAIT and seek reimbursement for protecting shipping through the key oil and gas route.
Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States, Trump wrote on Truth Social on July 14.
He provided no details of commitments by Persian Gulf governments but said the investments would be MASSIVE.
Iran’s military command had earlier said it would not allow the United States to interfere in the strait and warned Gulf neighbors against cooperating with Washington.
Trump said the strait would remain open to commercial traffic except vessels linked to Iran.
Washington would maintain a FULL Blockade on ships entering or leaving Iranian ports, or carrying Iranian cargo, he said.
The UN shipping agency had opposed imposing fees on vessels using international waterways.
With reporting by AFP and ReutersShare
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15:37
US Employs Sea Drones As Strikes Escalate In Strait Of Hormuz
In addition to a night of renewed US strikes on Iran, the American military’s Central Command reports that its forces targeted a submarine and ship maintenance facility in the Iranian port of Bandar Abbas using sea drones, which marks a first in American combat weapons technology. Three Corsair drones reportedly hit the port naval base. Iran has also claimed hits on at least two commercial ships in the Strait of Hormuz.(Video by RFE/RL’s Radio Farda and Will Tizard)
