Strait of Hormuz developments

Iranian lawmaker and former Foreign Minister Manouchehr Mottaki pointed out that all previous agreements with Washington, including the recent memorandum of understanding, "were nothing but deception"

A longer-term concern is that prolonged production halts could cause permanent output losses, the report said

Defense strategy expert at the Center for a New American Security think-tank in Washington Becca Wasser noted that escalation to de-escalate had not proven to be very successful in the past

The US president also said that the strait is closed only for Iran

Mohammad Reza Aref said that it is natural for Iran to control the Strait of Hormuz, just as it is natural for other countries to have the right to use it

Earlier US President Donald Trump said he had abandoned plans to charge a 20% fee for ships transiting the Strait of Hormuz in favor of trade and investment agreements

According to the US president, he was contacted by the leaders of the Gulf countries

Disruptions to the flow of food, medicines, and other necessary commodities have severe socio-economic and humanitarian consequences, both regionally and globally, Volker Turk said

The US president has decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States

The United States will have a full Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo, the US president said