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Articles for tag: blockade, Gulf states, Investment, Iran, maritime law, Middle East, Oil, Strait of Hormuz, Trump

Trump Drops 20% Strait of Hormuz Toll After Gulf Pushback; Replaces With Investment Deal Pledge

US President Donald Trump reversed his Monday announcement of a 20% toll on all ships transiting the Strait of Hormuz on July 14, saying Gulf states would make "trade and investment deals" with the United States instead. The original proposal alarmed maritime lawyers and energy markets, who said it violated international law and would trigger an oil price spike. Trump attributed the reversal to "highly productive conversations with Middle East leadership."

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