Shipping industry representatives expressed surprise and skepticism regarding the announcement. Iran's foreign minister acknowledged compensation for safe passage but found the percentage high.

Says US will reinstate blockade of Iranian ships and act as ‘Guardian of the Hormuz Strait’, demanding reimbursement for securing the waterway.

More details are awaited after US President Donald Trump said in a post that Washington was reinstating a naval blockade on Iran and would be reimbursed 20