Washington, July 14 (SANA)U.S. President Donald Trump announced Tuesday that he would replace his earlier decision to impose a 20% fee on ships transiting theStrait of Hormuzwith trade and investment deals with alliedGulf states, while maintaining a “full blockade” on vessels bound for or coming from Iranian ports, according to a post on his Truth Social platform.

“Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States,” Trump wrote. “Those Investments will be massive but, at the same time, extraordinarily good for them, and their future”.

Trump said the Strait of Hormuz is “open to all Ship traffic except for Iran,” and that “oil is flowing like never before, thanks to the awesome Power of the United States Military”. “We will therefore have a full blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo,” he added.

The reversal came just one day after Trump announced the U.S. would become the “guardian” of the Strait of Hormuz and charge commercial vessels a 20% fee for providing security, following renewed U.S. strikes on Iran in response to Iranian attacks on commercial shipping. Trump said he changed his initial fee plan after receiving numerous calls from Gulf leaders.

The ongoing strikes have underscored the strategic importance of the strait, which handles approximately one-fifth of global oil supplies and whose closure had driven oil prices to their highest levels in four weeks. The conflict has left in tatters a June 18 interim agreement meant to pause the fighting and reopen the waterway, as both sides have accused each other of violating the accord.