President Donald Trump said on Monday the United States was reinstating its blockade of Iranian shipping in the Gulf and would ensure the Strait of Hormuz stays open after the two sides exchanged more missile and drone attacks.

The latest hostilities followed an announcement by Iran over the weekend that it was closing the strait, and cast further doubt on the viability of an interim deal to halt the war in the Middle East and drove oil prices higher.

“The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating THE IRANIAN BLOCKADE,” Trump said on Truth Social.

“The U.S.A. will be, from this point forward, known as ‘THE GUARDIAN OF THE HORMUZ STRAIT’, but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20 percent on all cargo shipped.”

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