Trump replaced the idea of imposing a toll on the Strait of Hormuz with investment agreements

U.S. President Donald Trump stated that the United States will not impose the previously proposed 20% toll for passage through the Strait of Hormuz. According to him, this measure will be replaced by investment and trade agreements with the countries of the Persian Gulf.

Trump also stated that the strait will remain open to most vessels, but restrictions will apply to ships bound for Iran or carrying cargo related to Iran.

U.S. President Donald Trump announced a change in approach to the issue of the Strait of Hormuz and trade restrictions. According to him, instead of the 20% levy he had previously proposed to offset U.S. costs, Washington will enter into large-scale investment and trade agreements with Gulf countries. “Based on very productive discussions with Middle Eastern leaders, I have decided to replace the 20% levy to offset U.S. costs with trade and investment agreements that various Gulf countries will enter into with the United States,”, Trump wrote.

He also stated that the Strait of Hormuz remains open to ships from all countries except those associated with Iran. “The Strait of Hormuz is open to all ships except those from Iran,” the U.S. president noted. According to him, the restrictions will apply to ships entering or leaving Iranian ports, as well as those carrying cargo related to Iran.

Trump explained his decision by saying that Washington wants to strengthen economic cooperation with countries in the region. He did not specify exactly which agreements he was referring to or which countries have already agreed to such arrangements. Separately, the U.S. president reiterated that Iran must not acquire nuclear weapons. “America is winning again, winning like never before… and, most importantly, Iran will never have nuclear weapons!” Trump declared.

The Strait of Hormuz is one of the world’s most important maritime routes. A significant portion of global oil and gas supplies passes through it, so any restrictions or escalation of tensions in the region could affect international markets, according to The Guardian.

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