Trump announces return of Iran naval blockade, says US may charge fees to protect Hormuz shipping

President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20 per cent on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway.

"The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating THE IRANIAN BLOCKADE," Trump said on social media.

"The USA...will be reimbursed, at the rate of 20 per cent 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," he said. He said the process would begin immediately, but did not elaborate.