Trump announces US as 'Guardian of the Hormuz Strait,' proposes $30 mn cargo fee; here's how it compares with Tehran's

As tensions between the United States and Iran escalate, US President Donald Trump on Monday (local time) declared that Washington would likely assume control of the Strait of Hormuz, describing the country as a "future guardian" of the crucial waterway.

He made these remarks while speaking with Fox News and said the US would assume the role of "The Guardian of the Hormuz Strait," reiterating that the vital maritime chokepoint would remain open "with or without Iran".

Trump further said, "We're going to keep the strait, and we'll probably run it. We'll become the guardian of the strait. Maybe we'll call it the guardian angel of the strait. And we should be reimbursed for that."

Here's how Trump's proposed fee compares with Iran's proposed charges

He has proposed a 20% reimbursement on cargo transported through the Strait of Hormuz, a move that would amount to nearly $30 million for a fully loaded oil supertanker, Bloomberg reported. The US President's latest demand is based on current oil prices of roughly $80 per barrel. Supertankers can hold roughly two million barrels of crude.

In comparison, Iran had been charging $2 million per journey on an ad hoc basis. Reacting to Trump's latest proposal, Iran's Foreign Minister Abbas Araghchi, in a post on X, wrote, "POTUS is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for this service," and added, “Iran has always been the GUARDIAN of the Strait and will remain so FOREVER.”

"20% is, of course, too much. We will be fair," Araghchi claimed. According to Press TV, Trump's latest demands are being viewed as nothing short of economic extortion by Iranian officials, who call them an illegal attempt to undermine Tehran's sovereign rights.

Earlier in April, media outlets reported that Tehran would be charging $2 million to allow the safe passage of ships in the Strait of Hormuz. Citing two Iranian officials, The New York Times reported in April that Tehran plans to charge a fee of roughly ₹18.5 crore ($2 million) per ship, to be split between Iran and Oman, which sits on the opposite shore of the strait.

Following Tehran's announcement in April, Trump said that Washington could also consider imposing tolls in the Strait and pointed to the Islamic Republic's efforts to charge vessels, a move which was previously termed unlawful by several US officials.

Shipping industry reacts with skepticism

Bloomberg reported that the proposal was met with skepticism across the shipping industry. Around a dozen people involved in maritime trade, including operators whose tankers have recently transited the Strait of Hormuz, said they had received no prior indication of Trump's proposed fee on cargo moving through the waterway. They added that, with few details available, it was too soon to assess how the measure might influence transit decisions. One tanker captain likened the proposed charge to highway robbery.

US-Iran ceasefire falls apart

Both Washington and Tehran are now eyeing control of the Strait of Hormuz, an arterial waterway which was once responsible for a fifth of the world's oil and gas shipments. The battle for control over the maritime chokepoint has further intensified after the fragile ceasefire fell apart when the US launched attacks on Iranian sites last week after what it said was in response to the Islamic Revolutionary Guard Corps (IRGC)'s attacks on commercial vessels transiting Hormuz. Since then, Tehran has responded by attacking Washington's allies in the region and has shut the Strait of Hormuz "until further notice".

(With agency inputs)