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Switzerland
Switzerland Desk · · 30s summary · 3 min read
The United States struck Iranian targets for a third consecutive night on July 13-14, 2026, escalating tensions in the Persian Gulf. The strikes followed Iran's attack on two UAE-aligned tankers in the Strait of Hormuz with cruise missiles, killing one Indian sailor and injuring eight others. President Trump declared the truce terminated, announced a naval blockade against Tehran, and proposed a 20% tax on cargo transiting the strait. According to the New York Times, the tax could cost around $30 million per large tanker passage. The proposal sparked international criticism, with Brazilian President Lula da Silva calling it "piracy."
The United States struck Iranian targets for a third consecutive night on July 13-14, 2026, according to SRF. At the same time, President Donald Trump declared the truce over, announced a naval blockade against Tehran, and proposed a 20% tax on the value of cargo transiting the Strait of Hormuz.
Iranian media reported multiple explosions on Iran's southern coast during the night of July 13-14, 2026. These strikes follow an Iranian attack on two tankers belonging to the United Arab Emirates, U.S. allies.
Iran had fired cruise missiles at these tankers in the Strait of Hormuz, killing one Indian sailor and injuring eight people, according to the UAE Defense Ministry.
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Trump announced a 20% tax calculated on cargo value for any vessel transiting the Strait of Hormuz. He justified the measure by saying the U.S. needs compensation for providing secure escort for ships through this strategic passage.
The New York Times estimated the tax would amount to roughly $30 million per passage for a large tanker. Under international law, international waters are freely navigable for all, without charges.
Shipping companies and logistics firms would pay the tax on the spot but would pass it along to their end customers. All goods transiting the strait would thus become more expensive, fueling global inflation.
20% is too much. We will be fair.
— Iranian Foreign Minister, on X
Iran, which has itself already collected transit fees, responded with mockery, claiming it has always been and remains the "guardian" of the Strait of Hormuz.
Brazilian President Luiz Inácio Lula da Silva called the tax "piracy."
SRF economic journalist Charlotte Jacquemart believes the announcement is not politically favorable to Trump. It comes amid growing U.S. budget deficits and declining investor confidence in capital markets, just months before the midterm elections scheduled for fall 2026.
The concrete details of how the naval blockade and transit tax will be implemented have not yet been clarified. The extent of damage caused by U.S. strikes on Iran's southern coast is not yet known.
The possibility of resuming negotiations within the timeframe set by the truce remains open but is not yet confirmed.
The U.S. strikes are part of an escalation following Iran's attack on two UAE tankers in the Strait of Hormuz. Trump declared the truce concluded thirty days earlier to be terminated.
Trump is proposing a 20% tax calculated on cargo value for any ship crossing the Strait of Hormuz. The New York Times estimates it at roughly $30 million per passage for a large tanker. Under international law, international waters are freely navigable, without charges.
A framework agreement had been concluded thirty days before July 14, 2026 as the basis for negotiations on a lasting end to the conflict, with a total 60-day deadline. Trump declared it broken on July 14, 2026.
Shipping companies would pass the tax along to their end customers, making all goods transiting the strait more expensive and fueling global inflation.