422. The Guardian

President Trump announced that the United States would henceforth be known as the guardian of the Strait of Hormuz, and that all cargo ships passing through the Strait would be charged a 20% toll to cover, in his words, "any and all costs necessary to do the job of providing safety and security to this very volatile section of the world."

Iran's Foreign Minister responded on social media that "Iran has always been the GUARDIAN of the Strait and will remain so FOREVER."

There are now two guardians.

(The Strait of Hormuz is a waterway approximately 21 miles wide at its narrowest point, connecting the Persian Gulf to the Gulf of Oman. It is through this waterway that a significant portion of the world's oil and liquefied natural gas passes. Declaring oneself the guardian of a strait through which this much oil travels is a statement with consequences that extend beyond the statement itself.)

The U.S. military has launched the third consecutive night of airstrikes against Iran as part of what U.S. Central Command described as an effort to degrade Iran's capacity to "attack innocent civilians and commercial shipping in the Strait of Hormuz." The strikes are being conducted by the guardian of the Strait. Iran, which has declared itself the permanent guardian of the same Strait, fired on a commercial ship and announced it was closing the waterway entirely. The Strait remains the subject of ongoing guardianship by both parties.

Brent crude futures rose above $83 a barrel following Trump's announcement of the reimposed naval blockade. Crossings through the Strait have dropped by more than half from the previous week.

(The guardian role, as historically understood, implies that the thing being guarded remains accessible and undamaged. One guardian has closed the Strait. The other is conducting nightly airstrikes. The toll collection mechanism has not been announced. The Strait remains, as the President described it, very volatile.)

The 2026 Strait of Hormuz crisis, as it is now being called, is ongoing. The tolls have been proposed. The airstrikes have occurred. The competing guardians have each stated their positions. The oil is up. The ships are down. The Strait, technically, remains there.