President Donald Trump announced that the United States is reinstating a naval blockade targeting Iranian shipping through the Strait of Hormuz and said Washington would impose a 20% charge on cargo passing through the strategic waterway. The move came as fighting between the United States and Iran intensified, with both sides exchanging attacks on a scale not seen since the ceasefire announced in April.

The move comes after the U.S. and Iran exchanged fire for the third weekend in a row, raising the specter of a return to all-out war after a shaky ceasefire took effect in June.

President Donald Trump on Monday reimposed a US naval blockade on Iran and vowed hefty fees for ships transiting the Strait of Hormuz. In Yemen, Iran-backed Houthi rebels attacked…