Iran unexpectedly backs Trump's plan to charge ships in Strait of Hormuz — then declares Tehran will collect the money
Iran unexpectedly backs Trump's plan to charge ships in Strait of Hormuz — then declares Tehran will collect the money.
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
Iran's foreign minister just found a surprising point of agreement with U.S. President Donald Trump.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
JP Morgan sees gold hitting $6,000/oz before 2027 — and a gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority Gold
The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes
After Trump declared that the U.S. was "taking over" the Strait of Hormuz and proposed charging a 20% fee on cargo moving through the critical waterway, Iranian Foreign Minister Seyed Abbas Araghchi responded with four words few expected (1).
Araghchi agreed that whoever provides safe passage for commercial vessels through the Strait should be paid for the service.
"Iran has always been the GUARDIAN of the Strait and will remain so FOREVER," he wrote on X.
It was a sharp response that appeared to turn Trump's own proposal against him. Iran was not conceding control of the Strait to Washington. It was asserting that Tehran — not America — has the right to protect the waterway and potentially collect the money.
That sets up a dangerous new confrontation over one of the most important shipping routes on Earth.
Trump had told Fox News (2) earlier Monday that the U.S. would hit Iran "very hard" and take control of the Strait following the latest exchange of strikes between Washington and Tehran.
"We're going to keep the Strait and we'll probably run it," he said. "We'll become the guardian of the Strait. Maybe we'll call it the guardian angel of the Strait, and we should be reimbursed for that."
Trump later announced (3) that the U.S. would reinstate a naval blockade targeting Iranian ships and customers. He added that the money from his proposed 20% cargo fee would cover the cost of providing safety and security in the region.
Now both sides appear to agree on one thing: Control of the Strait could come with a price tag.
The Strait of Hormuz may look like a narrow strip of water on a map, but its economic reach extends far beyond the Middle East.
The vital waterway serves as the main export route for Gulf oil and gas, handling roughly one-fifth of global supply.
The U.S. Energy Information Administration (4) has described it as one of the world's most important oil chokepoints. And, as the past few months have shown, any disruption there can send shock waves through global energy markets.
A 20% fee on cargo could raise transportation costs. A renewed blockade could limit supply. And another round of military escalation could force insurers and shipping companies to demand a much higher price for entering the region.
