BlockBeats News, July 15th: U.S. President Trump announced the abandonment of the previously proposed 20% toll on shipping through the Strait of Hormuz, a plan that was scrapped just about 24 hours after its announcement. Trump stated that a trade and investment agreement between Gulf countries and the U.S. would replace the toll scheme. He mentioned that he had been in communication with countries like Saudi Arabia, the UAE, Qatar, Kuwait, and Bahrain, who were more inclined to increase investments in the U.S. rather than accept a strait toll.

U.S. Energy Secretary Wright later confirmed that the 20% toll was "no longer on the table," and there would be no toll imposed on the Strait of Hormuz.

Meanwhile, the U.S. announced the resumption of a maritime blockade on Iranian ports and coastal areas, which officially took effect on Tuesday afternoon local time. The U.S. Central Command stated that the U.S. military had launched a new round of strikes against Iran to weaken its ability to attack commercial vessels in the Strait of Hormuz. Trump stated that military actions against Iran would continue and threatened that if Iran refused to return to the negotiating table, the U.S. would strike Iranian power plants and bridges as part of next week's actions, with energy facilities being the "ultimate target."