Trump announced the U.S. will control the Strait of Hormuz and charge a 20% toll on cargo passing through — framed as 'safeguarding passage' but actually a reinstatement of the Iran blockade that had been partially lifted earlier. The move immediately triggered oil price increases and represents a significant escalation in the U.S.-Israel war on Iran that began in late February 2026. Markets are reacting sharply because roughly one-third of global seaborne oil passes through this strait, and toll collection gives the U.S. leverage over global energy prices while directly targeting Iran's ability to export oil.