Trump reinstates Iran port blockade and vows 20% charge on cargo passing through Hormuz

President Donald Trump has said the US is reinstating a naval blockade of Iranian ports and will impose a 20% charge on all cargo shipped through the Strait of Hormuz following days of escalating strikes between the two countries.

Iran effectively shut down the strait - through which some 25% of the world's oil and 20% of global liquefied natural gas previously passed - after the US and Israel launched strikes against Iran on 28 February.

In a statement shared by Iranian media, Ebrahim Zolfaghari, spokesperson of Khatam al-Anbiya, said "repeated adventurism and malicious actions" from the US in the strait have "seriously endangered regional security, international trade and the passage of oil tankers and commercial vessels".