U.S. military to enforce new Iran blockade starting 4pm Tuesday

Per Axios, President Trump announced that the U.S. will reinstate a naval blockade on Iran, set to begin Tuesday at four PM Eastern Time. The blockade will prevent any ships from entering or leaving Iranian ports. Trump also stated the U.S. would be reimbursed at a rate of twenty percent on all cargo shipped for securing safe passage—though the specifics of this system remain unclear. The move escalates tensions in the Strait of Hormuz following recent clashes with Iranian forces, and threatens to reshape shipping economics in the Middle East. Iran's foreign minister responded by suggesting that whoever provides security for the strait deserves compensation—and hinting that should be Iran.

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