Trump warns Iran to halt fees on oil tankers through Strait of Hormuz

President Donald Trump on Thursday warned Iran to "stop now" if it is charging fees to oil tankers passing through the Strait of Hormuz, according to a post on Truth Social.

The warning escalates tensions less than two days after a ceasefire between the United States and Iran took effect. Trump announced Tuesday evening that the U.S. would agree to a two-week suspension of hostilities conditional on Iran's agreement to "the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz."

Vessel traffic through the strait, which carries approximately 20 percent of the world's oil supply, has remained severely restricted since the war began on February 28. According to the Financial Times, Iran is planning to charge shipping firms fees, to be paid in cryptocurrency, to permit their vessels to transit the waterway.

Trump's statement came after reports emerged of Iran's fee-charging scheme. The president did not elaborate on potential consequences for Iran if it proceeded with the plan.

The Strait of Hormuz remains a critical chokepoint for global energy markets. The restrictions on vessel traffic since the outbreak of hostilities have significantly impacted the flow of oil through one of the world's most strategically important maritime passages.