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U.S. President Donald Trump has said the Strait of Hormuz will remain open and announced restrictions targeting Iranian shipping. Trump made the remarks in a post on the Truth Social platform. “The Strait of Hormuz is open and will remain open, with or without Iran,” the U.S. president wrote. According to Trump, the United States is reinstating a blockade on Iran under a framework in which the restrictions will apply only to Iranian vessels or customers associated with Iran. He said all other countries would continue to have fair and free access to the strait. Trump also announced that the United States would henceforth be known as the “Guardian of the Strait of Hormuz.” According to his post, the United States plans to receive compensation equivalent to 20% of shipping revenues to cover the costs of ensuring security in the strait. “The process will begin immediately,” Trump wrote.