Trump Says US Could Impose Strait of Hormuz Transit Fees if Iran Deal Fails
Summary
- President Donald Trump said the US could impose Strait of Hormuz transit fees if a final agreement with Iran is not reached.
- Trump said there would be no transit fees in the Strait of Hormuz during the 60-day ceasefire period, and none after the 60 days expire.
- He said a memorandum of understanding (MOU) between the US and Iran includes provisions to immediately reopen the Strait of Hormuz and for Iran not to impose transit fees for 60 days.
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President Donald Trump said on June 20 on social media platform Truth Social that the US could impose transit fees in the Strait of Hormuz if a final agreement with Iran is not reached.
Trump wrote that there would be no transit fees in the Strait of Hormuz during the 60-day ceasefire period and none after the 60 days expire.
He added that there would be one exception. If a final deal is not completed, the US could impose the fees "by the United States and for the United States" to recover costs incurred in the past, present and future for services it provided as the "guardian angel" of Middle Eastern countries.
A memorandum of understanding signed earlier by the US and Iran included provisions to immediately reopen the Strait of Hormuz and for Iran not to impose transit fees for 60 days.
Choi Su-jin, Hankyung.com reporter, naive@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
