Trump Announces Full Blockade of Strait of Hormuz

US President Donald Trump announced in a recent statement that 'we will impose a full blockade on the Strait of Hormuz.' Trump added that this would 'only be against ships going to and coming from Iranian ports.'Trump stated on his social media account, 'The US will henceforth be known as the Protector of the Strait of Hormuz, and with this title, and with the necessity of being fair, all costs required to provide security and safety in this highly unstable region of the world will be compensated for at a rate of 20% of all cargo shipped. The process and formation will begin immediately.'Iranian Foreign Minister Abbas Arakchi responded by saying, 'Iran has always been and will always be the protector of the Strait of Hormuz.' The cause of the recent clashes is attributed to conflicting interpretations of the temporary peace agreement signed by the US and Iran on June 17 regarding the reopening of the Strait of Hormuz.Before the US and Israel attacked Iran on February 28, approximately 20% of the world's oil supply passed through the Strait of Hormuz. After Iran began attacking ships in the strait in early March, traffic decreased, but after Washington and Tehran signed the temporary agreement, traffic increased again.