Donald Trump · Strait of Hormuz · Iran · Israel · Lebanon · Fortune Technology
Days after the U.S. and Iran signed a memorandum of understanding to reopen the Strait of Hormuz
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On Saturday, Iran’s military command said it closed the strait, citing continued Israeli attacks on Lebanon and U.S. “bad faith” in failing to uphold commitments to end the war.
Key facts
- Not to be outdone, President Donald Trump threatened to charge U.S. tolls for “services rendered as the Guardian Angel to the countries of the Middle East,” if a final deal with Iran isn’t reached
- U.S. Central Command insisted safe passage through the strait remained intact and that traffic is up, with 55 merchant ships loaded with cargo and 17 million barrels of oil transiting on Saturday
- And despite its deal with the U.S. banning tolls for 60 days, the PGSA is requiring insurance that will eventually come at a cost
- But it’s not Iran or the US who decide that the strait is open—it’s shipping and insurance companies,” Eurasia Group senior analyst Gregory Brew posted on X
Summary
Days after the U.S. and Iran signed a memorandum of understanding to reopen the Strait of Hormuz, Tehran announced the critical waterway is closed again, threatening oil flows after they had barely started to rebound. “bad faith” in failing to uphold commitments to end the war. Not to be outdone, President Donald Trump threatened to charge U.S. tolls for “services rendered as the Guardian Angel to the countries of the Middle East,” if a final deal with Iran isn’t reached in 60 days. That came after the start of talks between the two countries had been delayed while both sides also sought to assert influence over the strait. U.S. Central Command insisted safe passage through the strait remained intact and that traffic is up, with 55 merchant ships loaded with cargo and 17 million barrels of oil transiting on Saturday.