US reverses June Iran deal with blockade and tariffs on world's busiest oil strait

The US Navy imposed a blockade on all Iranian ports July 13, 2026, and Trump announced a 20% tariff on cargo transiting the Strait of Hormuz—reversing a June agreement that reopened the strait toll-free. The JMIC warned vessels entering the blockaded zone without authorization face interception and force. Secretary of State Marco Rubio had recently called tolls on international waterways illegal. Iran rejected US claims to strait authority and declared it closed. Oil markets reacted sharply—Brent crude rose 7.8% to $81.92 per barrel.