Former US President Donald Trump has declared his intention to demand reimbursement from Gulf nations for the United States' role in protecting the Strait of Hormuz, a critical global oil transit route. Speaking from the Oval Office, Trump stated that the US is safeguarding a very rich portion of the world and should be compensated by the countries benefiting from this protection.
Trump announced the reinstatement of a naval blockade on Iran, asserting that the US would be reimbursed at a rate of 20% on all cargo shipped through the Strait of Hormuz. This declaration comes after Iran had claimed to close the waterway, a move that significantly impacted global energy prices and escalated inflation concerns worldwide.
Addressing reporters, Trump specifically named Saudi Arabia, the UAE, Qatar, Bahrain, and Kuwait as nations that would contribute to this reimbursement. He emphasized that while the US possesses ample oil resources, its protective presence in the region is crucial for safeguarding allies, including Israel and the aforementioned Gulf states. He highlighted the effectiveness of US efforts in maintaining security.
On Truth Social, Trump reiterated that “The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating THE IRANIAN BLOCKADE.” He added that the US “will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World,” indicating immediate implementation without further details.
In response, Iran's Revolutionary Guards issued a statement asserting that the only way to restore regular shipping traffic through the strait is to end US military interventions. They warned that continued interference could lead to further incidents in the global oil and gas sector. The region has recently seen heavy missile and drone exchanges between US and Iranian forces, with Tehran claiming strikes on US military facilities across the Gulf and maintaining the Strait of Hormuz's closure.
Trump also expressed optimism about the possibility of a peace deal with Iran, despite past agreements being broken. He had previously floated the idea of the US taking over and running the strait, potentially naming itself the “guardian angel of the strait,” and being reimbursed for this role.
The control of the Strait of Hormuz remains a central point of contention, with Iran's actions causing significant disruptions to global oil supplies. Trump underscored that wealthy nations cannot expect the US to protect the strait without compensation.