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The U.S. announced a new round of strikes on Iran on Monday, hours after President\u00a0Donald Trump\u00a0said Washington is \u201creinstating\u201d a blockade on Iran in the\u00a0Strait of Hormuz\u00a0and, in a seeming policy reversal, will charge other ships for safe passage.<\/p>\n
All of that comes as Iran has insisted it actually controls the critical waterway, and as the new exchange of fire threatened\u00a0a return to all-out war.<\/p>\n
U.S. Central Command announced on social media that the U.S. military had begun another round of strikes against Iran.<\/p>\n
\u201cThese strikes will continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz,\u201d the U.S. military said.<\/p>\n
Moments after the military announced the new strikes, Trump called it \u201canother major attack.\u201d<\/p>\n
\u201cWe\u2019re hitting them very hard. And it\u2019ll continue, and we\u2019ll see what happens,\u201d he told reporters in the Oval Office. \u201cWe\u2019re knocking out all of their offensive capability and we\u2019re controlling the straits. We\u2019re putting the blockade back.\u201d<\/p>\n
Trump also provided new details on his administration doing an about-face and suggesting it will charge tolls for ships going through the strait, after previously suggesting that it wouldn\u2019t.<\/p>\n
\u201cWe\u2019re protecting a very rich portion of the world,\u201d he said. \u201cWe\u2019re spending money. And so, what we\u2019ve done is, we are going to be reimbursed for protection.\u201d<\/p>\n
It\u2019s a change in U.S. policy that, until now, said the strait should remain open to all without tolls \u2014 as it was before the U.S. and Israel attacked Iran on Feb. 28. Any attempt by the U.S. or Iran to charge fees\u00a0would violate global norms\u00a0on freedom of navigation and raise tensions, likely causing further\u00a0economic disruption\u00a0far beyond the region.<\/p>\n
The price for a barrel of Brent crude oil, the international standard,\u00a0rose 7.8% to $81.92 a barrel on Monday, still well below the nearly $120 reached at the height of the war.<\/p>\n
Earlier, Trump told conservative radio host Hugh Hewitt that the agreement reached last month was \u201cbuilt to test\u201d Iran, adding that \u201cwhen you\u2019re dealing with sleazebags don\u2019t mean much.\u201d<\/p>\n
Trump said he questioned why the U.S. was entering into a deal to create a ceasefire with Iran rather than moving toward a full deal first. Trump last week declared the ceasefire was \u201cover.\u201d<\/p>\n
\u201cThey didn\u2019t honor the test,\u201d the president said.<\/p>\n
Exchanges of fire in recent days, sparked by Iranian attacks on ships, had already cast further doubt on the\u00a0interim peace deal.\u00a0Washington had lifted a blockade it imposed in mid-April as part of that deal, which also called for the strait to be fully reopened.<\/p>\n
\u201cWe are reinstating the THE IRANIAN BLOCKADE,\u201d Trump said on social media. \u201cAll other countries will have fair and open use of the Strait.\u201d<\/p>\n
The president said the U.S. would be \u201creimbursed\u201d by 20% of the value of cargo to help cover \u201cany and all costs necessary to do the job of providing safety and security.\u201d<\/p>\n
The U.S. military said it will resume its blockade of Iranian ports Tuesday at 4 p.m. EDT.<\/p>\n
Iran asserts it has the right to manage traffic through the strait and potentially charge fees in accordance with the interim peace deal. The U.S. has disputed that.<\/p>\n
Iran on Monday vowed to fight back against any U.S. interference in the strait. Iran\u2019s Foreign Minister Abbas Araghchi mocked Trump on social media and used his support for tolls to legitimize Iran\u2019s position.<\/p>\n
\u201cPOTUS is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for this service,\u201d Araghchi wrote on X. \u201cIran has always been the GUARDIAN of the Strait and will remain so FOREVER. 20% is of course too much. We will be fair.\u201d<\/p>\n
The International Maritime Organization, the United Nations agency overseeing international shipping, said it was waiting to find out more about Trump\u2019s proposal but remained opposed to tolls for passage through international waterways.<\/p>\n
\u201cThere is no legal basis through which to introduce mandatory tolls simply to transit through a strait,\u201d it said in a statement.<\/p>\n
Meeting with Gulf leaders late last month, Secretary of State Marco Rubio had spoken forcefully against Iran charging fees for transit through the strait.<\/p>\n
\u201cThat\u2019s international waterway. There isn\u2019t a nation on Earth that supports having to pay money to go through the straits,\u201d Rubio told reporters in Bahrain on June 25.<\/p>\n
Rubio also said there was \u201czero support among the Gulf countries for any sort of toll or fees or anything that charges for the use of international waters. The president\u2019s made it clear that\u2019s not going to happen.\u201d<\/p>\n
A fifth of the world\u2019s oil and gas passed through the strait before Iran effectively shut it down at the start of the war, driving up global prices of energy, fertilizer and other goods. Traffic had picked up after last month\u2019s agreement but remained well below prewar levels.<\/p>\n
The American military has tried to establish a route through the strait along the coast of Oman that would be outside of Iranian control. Iran has attacked ships using that route, saying the U.S. is violating the interim peace deal. The U.S. has attacked Iran in response, drawing Iranian attacks on U.S.-allied Arab states.<\/p>\n
The U.S. military said it struck dozens of sites Monday, including air defense systems, radar sites, missile and drone equipment, and small boats in response to an Iranian attack on a container ship the day before. The U.S. said it used drone ships for the first time to hit an Iranian ship maintenance facility and submarine on Sunday.<\/p>\n
Missile alert sirens sounded three times Monday in Bahrain, home to the U.S. Navy\u2019s 5th Fleet. There was no immediate word on damage.<\/p>\n
Separately, Kuwait\u2019s Foreign Ministry said its consulate in Iraq had been attacked. It did not immediately blame anyone for the attack or disclose damages or casualties.<\/p>\n
The oil-rich kingdom \u2014 home to several U.S. military bases \u2014 also condemned Iran and \u201cits factions and militias loyal to it in Iraq\u201d for attacking what it described as \u201cseveral border points\u201d and a maritime oil drilling platform that belonged to the Kuwait Petroleum Corporation.<\/p>\n
In Jordan, the kingdom\u2019s military said it shot down four Iranian missiles in an incident that \u201cresulted in zero casualties or material damage.\u201d Jordan also hosts U.S. military forces and aircraft.<\/p>\n
In Iran, authorities reported attacks in Hormozgan, Khuzestan and Markazi provinces and said at least two people were killed, according to state-run IRNA news agency. Semiofficial Iranian media also reported strikes in the eastern Sistan and Baluchestan province, which is on a coast of the Gulf of Oman.<\/p>\n
Those attacks on Iran raised the possibility that Gulf Arab states were retaliating. There were\u00a0unclaimed attacks on Iran\u00a0on Thursday.<\/p>\n
Iran\u2019s Foreign Ministry spokesperson Esmail Baghaei blamed Washington for the chaos gripping the region. He said Iran wouldn\u2019t agree to visits by the International Atomic Energy Agency to nuclear sites the U.S. bombed in 2025. That\u2019s where Tehran\u2019s stockpile of\u00a0highly enriched uranium\u00a0is believed to be entombed.<\/p>\n
Trump suggested last week that the interim deal in the war was \u201cover\u201d and the U.S. ended waivers allowing Iran to sell crude oil on the open market in U.S. dollars. But mediators, including Pakistan, Qatar and Egypt, have\u00a0continued efforts\u00a0to reach a final agreement to end the war.<\/p>\n
Iran and the U.S. are nearly halfway through the 60-day period in which they were supposed to negotiate such an agreement, which was also supposed to address Iran\u2019s disputed nuclear program.<\/p>\n<\/div>\n
#Iran #mocks #Trumps #reversal #Hormuz #charges #fair<\/p>\n","protected":false},"excerpt":{"rendered":"
The U.S. announced a new round of strikes on Iran on Monday, hours after President\u00a0Donald Trump\u00a0said Washington is \u201creinstating\u201d a blockade on Iran in the\u00a0Strait of Hormuz\u00a0and, in a seeming… <\/p>\n","protected":false},"author":1,"featured_media":12064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6016,6876,640,445,13407,13408,2257],"class_list":["post-12063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-charges","tag-fair","tag-hormuz","tag-iran","tag-mocks","tag-reversal","tag-trumps"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/12063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12063"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/12063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/12064"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}