Trump Declares US 'Guardian of the Strait of Hormuz,' Iran Rejects

On Monday, President Donald Trump revealed that the U.S. is reinstating a naval blockade on Iranian shipping, designating the nation as the 'Guardian of the Hormuz Strait.' This move comes after recent U.S. military actions against Iran. Trump announced on Truth Social that a 20% charge would apply to all cargo using the strait to help cover U.S. security expenses, although details were lacking. In response, the Iranian military asserted that the U.S. would not control the strait. U.S. Central Command reported launching targeted strikes on Iranian sites to reduce threats to commercial ships. Iran retaliated with missile and drone strikes on U.S. bases in the region, which were intercepted without any injuries. The blockade marks a reversal of a key concession made during a ceasefire last month, following a June 17 agreement. The current tensions escalated after Iran captured a Cypriot vessel. Traffic through the strait recently hit a low of 14 vessels, and oil prices surged about 5% to nearly $80 a barrel, while U.S. gas prices rose to an average of $3.87 per gallon.