US President Donald Trump stated on 14 July that trade and investment agreements with the Gulf states would replace the 20 per cent levy on ships passing through the Strait of Hormuz, which he had proposed the previous day.
‘Following very productive discussions with the leaders (countries) in the Middle East, I have decided to replace the 20 per cent levy to recoup the United States’ costs with trade and investment agreements that various Gulf states will conclude with the United States,” he wrote in a post on his own social media platform, Truth Social.
On 13 July, US President Donald Trump announced that the United States was taking military control of the Strait of Hormuz and imposing a 20 per cent levy on the value of cargo for all civilian vessels passing through the strait. This announcement came against the backdrop of the resumption of the naval blockade of Iran and a new wave of military escalation in the region.
At the same time, the US President specifically named five wealthy Middle Eastern countries (Saudi Arabia, Qatar, the UAE, Kuwait and Bahrain) which, in his view, should pay the US for the protection of the region.
Earlier, Iran had announced the closure of the Strait of Hormuz “until US interference ceases” and had launched missiles and drones at American facilities and bases in neighbouring Persian Gulf states.