Ceasefire disintegrates as Trump says US will reinstate blockade of Iranian ships in Strait of Hormuz

Key Points:

• Iran’s Foreign Minister Abbas Araghchi agreed with US President Trump that commercial ships should pay fees for transiting the Strait of Hormuz, but mocked Trump’s proposed 20% cargo charge, insisting Iran would collect “fair” fees as the rightful “guardian” of the strait.
• President Trump announced the US would reimpose a naval blockade on Iranian ships in the Strait of Hormuz and charge commercial vessels a 20% toll for passage, positioning the US as the “guardian” of the strategic waterway and seeking compensation for security costs.
• The US military has begun preparations to restart the blockade, facing logistical challenges similar to those encountered during previous blockades, including maritime patrol difficulties and the vast area needing surveillance.
• Rising tensions have contributed to sharp increases in oil and fuel prices, with Brent crude and US oil surging over 7% following Trump’s blockade announcement and ongoing regional conflicts impacting supply routes.
• Concurrently, Saudi Arabia intercepted a ballistic missile launched by Iran-backed Houthi rebels in Yemen, who accused Riyadh of airstrikes on Sanaa airport, escalating hostilities and threatening a breakdown of a years-long truce in the region.