Donald Trump says he is reinstating the American blockade of Iranian ships and "taking over" the Strait of Hormuz, charging ships who pass under American protection 20% of their cargo.
Trump’s reimposing of the blockade comes just over three weeks after it was lifted as part of the truce with Iran.
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The president said the US would ensure the Strait of Hormuz remains open
Meanwhile, Iran and the US have been exchanging fresh strikes over the last 24 hours - and it's all sent oil prices jumping more than 5%.
Is this back to war or bluster?
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