Trump Closes Hormuz: 'Those Who Pass Must Pay Us a Toll.' US Continues Bombing Iran

Former President Donald Trump has announced a blockade of the Strait of Hormuz, declaring that any vessel passing through must pay a toll to the United States. This follows a new wave of U.S. airstrikes on Iranian coastal positions and retaliatory attacks by Iran's Islamic Revolutionary Guard Corps (IRGC) against U.S. bases in the region. The Strait of Hormuz is a critical chokepoint for global oil shipments, with about 20% of the world's petroleum passing through daily. Trump's unilateral action escalates the ongoing military confrontation between the U.S. and Iran, which has been marked by repeated strikes and counterstrikes. No official statements from the Iranian government or international bodies have been reported yet. The move threatens to disrupt global energy markets and could draw in regional allies and adversaries.

Global Impact

Economically, the blockade of the Strait of Hormuz would cause a severe supply shock to global oil markets, potentially driving crude prices above $120 per barrel and triggering a recession in oil-importing nations. Politically, the move isolates the U.S. from key allies like Japan and South Korea, which rely heavily on Gulf oil, and could fracture the NATO alliance if European nations refuse to enforce the toll.