By Sabiu Abdullahi
United States President Donald Trump has announced plans to impose a 20% “safe passage” fee on ships transporting cargo through the Strait of Hormuz, one of the world’s most important oil shipping routes.
Trump said the proposed levy would cover the cost of providing security in the strategic waterway. He made the announcement in a post on his Truth Social platform.
He wrote, “All other countries will have fair and open use of the Strait.
“The U.S.A. will be, from this point forward, known as ‘THE GUARDIAN OF THE HORMUZ STRAIT,’ but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World.
“The process and formation will begin immediately.”
The announcement comes amid renewed hostilities between the United States and Iran after the collapse of a ceasefire agreement. Washington has resumed military strikes against Iranian targets, while Trump has vowed to deal with Tehran “very hard” over its refusal to reach an agreement.
The US Central Command (CENTCOM) said it struck 140 targets over the weekend. Military operations continued on Monday. The attacks reportedly damaged infrastructure and resulted in civilian casualties.
Iran has accused the United States of disrupting negotiations with Oman on maintaining safe passage through the Strait of Hormuz. It has also responded with strikes on US facilities in neighbouring Gulf countries.
The latest escalation has affected the global oil market. Brent crude, the international benchmark, rose by 3.60% to $78.7 per barrel, after trading at around $70 per barrel in recent weeks. Analysts say continued tensions around the Strait of Hormuz could increase pressure on global energy prices.
