US may decide to impose tariffs on this route in the future if a comprehensive peace agreement is not reached.
Strait of Hormuz toll-free for 60 days: Donald Trump: Amid the growing tension in the Middle East, US President Donald Trump has made a big announcement. Trump said that during the 60-day ceasefire, no tolls would be imposed on ships passing through the.
Trump’s statement has come at a time when Iran has raised the concerns of the global energy market by claiming to close the Strait of Hormuz. In a social media post Trump said currently, no fees will be charged from ships for 60 days passing through the Strait of Hormuz. However, he also clarified that the US may decide to impose tariffs on this route in the future if a comprehensive peace agreement is not reached.
The IRGC has warned all ships to stay away from this strategic sea route. The organization said the move was prompted by Israel’s activities in Lebanon and the alleged failure of the US to enforce a ceasefire. IRGC said that any ship entering this waterway will do so at its own risk.
After Iran’s announcement, concern has increased in global energy markets as the Strait of Hormuz is considered one of the most important sea routes for oil and gas supplies in the world. Large quantities of crude oil and gas are exported through this route.
US Central Command said that 55 merchant ships passed safely through this route on Saturday. More than 1.7 million barrels of oil and other goods were transported in these ships. The U.S. military said it is committed to continuing the movement of commercial vessels.
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