The US will receive 20% of the value of all cargo transported through the Strait of Hormuz as compensation for ensuring its security.
Modern.az reports that US President Donald Trump wrote about this on "Truth Social".
"The Strait of Hormuz is open and will remain open - with or without Iran. We are reinstating the Iran blockade. The Iran blockade is named as such because it only applies to ships from Iran and its clients, which will be prohibited from entering or exiting. All other countries will have fair and free access to the strait," he wrote.
According to Trump, the US will henceforth be called the "Guardian of the Strait of Hormuz," and payments will be directed towards covering the costs associated with ensuring the security and defense of this "extremely unstable region" of the world.
"The process and the creation of the relevant mechanism will begin immediately," he added.
