Strait of Hormuz tensions rise as US proposes 20% toll and Iran attacks vessels

President Donald Trump announced a proposal to levy a 20% toll on all ships passing through the Strait of Hormuz, arguing it would fund U.S. security guarantees for the waterway. The plan would mark a break from decades of U.S. policy that opposes any fees on international navigation.

Iran responded by threatening to close the strait and has carried out attacks on several vessels, including two Emirati tankers, a chemical tanker and the container ship GFS Galaxy, resulting in damage and the death of a crew member. The United States has reinstated a naval blockade of Iranian ports and heightened its own military activity in the Gulf.

The heightened confrontations have rattled energy markets; Brent crude rose more than 11 % in two days, with analysts estimating that a 20% toll could generate up to $100 billion in revenue for the United States. About 20 % of global oil supplies and a comparable share of liquefied natural gas pass through Hormuz, so any prolonged disruption threatens economies from the United States and Europe to China, India, Japan and South Korea.