President Donald Trump shared that he is considering a “joint venture” with Iran to set up tolls in the Strait of Hormuz. This comes after a two-week ceasefire agreement between Washington and Tehran. The strait remains a critical artery for global energy, with roughly 20% of the world’s oil passing through it daily.
Donald Trump considering ‘joint venture’ with Iran
ABC News asked Donald Trump whether he approved of Iran’s plan to charge vessels a fee for passage through the strait. “We’re thinking of doing it as a joint venture,” Trump told Karl, who posted the exchange on X. “It’s a way of securing it — also securing it from lots of other people. It’s a beautiful thing.”
This joint venture concept was not included in Iran’s 10-point peace plan, which the U.S. accepted and Trump previously described as “workable.” Earlier, Trump posted on Truth Social about the financial opportunity, writing there was “big money” to be made by U.S. involvement in the “traffic buildup” in the Strait of Hormuz. He added, “We’ll be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well. I feel confident that it will.”
Trump had suggested that the U.S. could impose its own tolls on vessels transiting the channel. On the other hand, Tehran leaders had signaled the previous week they would install a “toll booth” system to charge ships for safe passage (via The Hill).
Secretary of State Marco Rubio previously criticized Iran’s tolling proposal as “illegal” and “dangerous for the world,” stating the U.S. and European partners would need a plan to address it. Rubio added that the U.S. would not lead that plan. A regional officer told The Associated Press that funds from Iran’s toll system would go toward reconstruction, with some fees presented to Oman.
The U.S. and Iran reached the ceasefire deal hours before Trump’s 8 p.m. EDT Tuesday deadline. The president had threatened that without a deal to reopen the strait, Iran’s “whole civilization will die tonight.” Vice President Vance described the ceasefire as a “fragile truce” and warned Iran against lying or cheating.
Originally reported by Devanshi Basu on Mandatory.
This story originally appeared on Realitytea
