Iran mocks Trump over tolls for Hormuz strait passage - Middle East and Africa - EUROPE SAYS
ranian Foreign Minister Abbas Araghchi on Monday mocked US President Donald Trump over his vow to impose hefty charges on all cargo shipped through the Strait of Hormuz, saying Iran would charge a lower. . .
ranian Foreign Minister Abbas Araghchi on Monday mocked US President Donald Trump over his vow to impose hefty charges on all cargo shipped through the Strait of Hormuz, saying Iran would charge a lower rate. “POTUS is absolutely right. Whoever provides secure and safe passage of commercial vessels through the Strait of Hormuz should be compensated for this service. Iran has always been the GUARDIAN of the Strait and will remain so FOREVER. 20% is of course too much. We will be fair,” Tehran’s top diplomat wrote, in a social media post. Meanwhile, oil prices rose on Tuesday to their highest in four weeks, as the US reimposed a naval blockade of Iran and renewed attacks between Washington and Tehran heightened concerns over energy flows through the Strait of Hormuz. Brent crude futures were up $2. 74, or 3. 29 percent, at $86. 04 per barrel at 0751 GMT, while US West Texas Intermediate crude rose $2. 21, or 2. 83 percent, to $80. 35 a barrel. Brent crude rose to its highest since June 12 and WTI to its highest since June 16. The United States and Iran signed a memorandum of understanding to end the conflict on June 17. “Despite signing the memorandum of understanding and having a deal, this did not last for even a few weeks. So that’s the concern the market is trying to price right now,” said ANZ analyst Soni Kumari. “What we think is that the peak of the escalation is behind us, but there are upside risks to oil prices if these disruptions continue and that will keep prices in the $85-$90 range. ”Hostilities between the United States and Iran intensified this week, as President Trump reinstated a blockade of Iranian shipping and proposed charging a 20 percent fee to guard the Strait of Hormuz. The waterway is a critical artery for global energy trade, carrying about a fifth of the world’s daily oil and liquefied natural gas supplies before the conflict began. Amid the strikes, two United Arab Emirates tankers were hit by two Iranian cruise missiles in the southern lane of the Strait of Hormuz in Omani territorial waters, the UAE Ministry of Defence said on Monday, killing one Indian crew member and wounding eight others. Shipping data on Monday also showed the number of tankers transiting the Strait of Hormuz fell in the past day to the lowest level in two months. Tags:Abbas AraghchiDonald TrumpIranPOTUSpresident donald trumppresident of the United Statespresident trumpStrait of HormuztrumpUSwar