Trump Warns Iran on Hormuz Tolls Amid Global Energy Crisis
US President Donald Trump has warned Iran against charging tolls on ships crossing the Strait of Hormuz, a major shipping lane in the Middle East. The warning comes as Japan announced an emergency oil release due to a mounting global energy crisis. Iran's conflict with Saudi Arabia and the US has damaged Gulf energy production, stranding tanker traffic, and boosted oil prices by about 50%.
The Strait of Hormuz is a critical waterway for international trade, and Iran's decision to charge tolls in cryptocurrency during the ceasefire announced on April 7 sparked concerns. Trump wrote on Truth Social that 'they better not be and, if they are, they better stop now.' That is not the agreement we have!'
Iran's Islamic Revolutionary Guard Corps set forth a special route for vessels to follow around Larak Island to avoid naval mines in the usual lanes through the strait. Japan plans to release an additional 20 days' worth of oil reserves from May, Prime Minister Sanae Takaichi told a cabinet meeting on Friday.