Washington: U.S. President Donald Trump expressed opposition to Iran's reported intention to levy fees on oil tankers traversing the Strait of Hormuz. The waterway, critical for global energy supply, has been blocked since the onset of the Iran-Iran conflict, causing the most significant disruption to energy supply in history.
According to Thai News Agency, Trump communicated via the Truth Social platform that there are claims of Iran imposing fees on tankers in the strait. He emphasized that such actions should not occur, urging Iran to halt any fee collection immediately. Trump further asserted that oil will resume flowing through the strait, irrespective of Iran's cooperation. Additionally, he criticized Iran for failing to maintain the Strait of Hormuz open for oil transport, alleging non-compliance with existing agreements.
The Financial Times reported that Hamid Hosseini, spokesperson for the Iranian Union of Petroleum, Gas and Petrochemical Exporters, announced Iran's demand for cryptocurrency payments to control the strait during a two-week ceasefire with the United States. This proposal has met with strong opposition from Western leaders.
The conflict, involving the United States, Israel, and Iran, began on February 28, with Iran's retaliatory attacks on Israel and Gulf states hosting US bases. This escalation led to increased oil prices, severely affecting global markets. Despite a ceasefire declaration by Trump on Tuesday, shipping through the Strait of Hormuz remained below 10% of normal levels on Thursday due to Iran's continued restriction of shipping to its territorial waters.
The Strait of Hormuz is crucial for transporting about 20 percent of the world's oil and liquefied natural gas. The ongoing conflict had previously almost completely halted shipping through this vital route.