The United States (US) has reinstated a naval blockade of Iranian ports and will impose a 20% charge on all cargo transiting the Strait of Hormuz. President Donald Trump announced the new fee and blockade following recent military clashes between the US and Iran.
This measure, effective from 16:00 Eastern Time on Tuesday, 13 July 2026, aims to prevent Iranian vessels or their customers from using the critical oil shipping route. President Trump stated that other countries would retain fair and open use of the Strait. American forces will resume blocking maritime traffic entering and exiting Iranian ports from 14 July.
This development adds to ongoing global economic uncertainties, especially regarding crude oil prices and international shipping costs. Ghana, as an oil-importing nation, could experience increased fuel costs due to higher shipping expenses and potential supply disruptions. Changes in global oil prices directly affect Ghana's economy, influencing inflation and the cost of living.
The US military's Central Command (Centcom) confirmed its forces would support traffic flow for vessels not violating the blockade. President Trump's statements on Truth Social emphasized the US would act as the "GUARDIAN OF THE HORMUZ STRAIT." He insisted on reimbursement for providing safety and security in the volatile region.
The implications of this move are far-reaching for global trade and energy markets. Oil prices are expected to react to these tensions, potentially rising as supply routes face new restrictions. Decision-makers in Ghana will monitor the impact on trade, particularly for oil imports. The International Maritime Organization (IMO) has expressed opposition, stating there is no legal basis to charge fees for transit through international straits.
Iranian Foreign Minister Abbas Araghchi responded, acknowledging the need for compensation for safe passage but asserting Iran's role as the strait's guardian. He called the 20% fee "too much" but added Iran would be "fair." The Strait of Hormuz is a crucial choke point, with 25% of global oil and 20% of liquefied natural gas passing through it. Previous disruptions have led to significant increases in oil prices.
The US previously imposed a naval blockade of Iranian ports in April, redirecting 100 commercial vessels and disabling four. That blockade was lifted in June under a memorandum of understanding, but disputes quickly resurfaced. Legal experts analyze how the US can justify a 20% toll under international maritime law regarding free passage.
The ongoing US military actions in Iran, resumed on 7 July, require Congressional approval under federal law if continued for over 60 days. The White House can extend this by 30 days for national security reasons. The potential for conflict expansion remains a key concern for regional and international stability.