President Trump announced that the US have full control over the Strait of Hormuz, and will charge 20% for all the ships they allow to pass through the Strait. Iran will not be allowed to use the Strait, and the US will reimpose the total blockade on Iranian products: no one can buy anything from Iran or sell anything to Iran.
That total blockade was actually true from 1980 until 2021: a fleet of USN corvettes patrolled the Iranian ports, and any ship that bought any Iranian products was seized and sold, along with all that ship's cargo. Every year I would read about a ship being seized and sold for buying Iranian products, with the proceeds going to the US government.
Until 2021.
Then a fleet of Navy (not USN) Frigates showed up leading a huge number of tankers to an Iranian port, the USN corvettes decided that it would be prudent to depart, all the tankers filled up and, accompanied by the frigates, all sailed away. Since it is illegal to pay Iran in US$, they were paid in some other currency, a currency that could buy lots of stuff Iran needed.
We never heard anything about this while Biden was president. Actually, we don't hear much about it now that, under Trump, the US military have started bombing Iran and trying to block ships from buying any Iranian products. A few ships got stopped by the US blockade, but it was a long way from the coast of Iran, so many ships managed to sneak into an Iranian port, fill up, and sneak out past the US Navy without getting caught.
Last I heard, President Trump said the US now have full control of the Strait, but will not charge 20% for the ships they allow to sail through the Strait. Also, Iran managed to damage some of the ships that tried to sail under US protection, so the US are bombing Iran, but it's not clear how many ships are managing to traverse the Strait without Iranian protection, or how many are managing to traverse the Strait with Iranian protection, when the US have promised to stop all ships sailing with Iranian protection.
Net: the world keeps getting closer and closer to an energy Depression.
The US say this is entirely Iran's fault: they must agree to abide by all US decrees, which are all International Law, so they cannot trade with any other nation, and must return all the oil and gas in Iran to the legal (under US/UK/EU law) owner, BP. Also, most of Iran belongs to Israel, as does most of Lebanon, and Iran must support Israel's taking all the land that is rightfully theirs, everything from the Euphrates to the Nile. (Türkiye have already said they have no intention of handing any of Türkiye over to Israel, so the US might have to do some serious persuading to get them to comply with the new and improved version of International Law that the Zionists have the US government fully supporting, since they own the US presidency, almost all the US Congress, and the US Court system.)
In any case, the 14 point MOU, both the Iranian Version and the Trump Version, seem as dead as Senator Graham.
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I was watching the news, and a retired US Navy Captain said the US defence system is 100% effective.
'But it misses 99% of the incoming drones and missiles,' said the interviewer, Rick Sanchez.
'Yes, 99% of the incoming drones and missiles are heading for empty space, so it would be a complete waste to shoot them down, we only shoot down drones and missiles heading for a valuable target, and our success rate is 100% for those drones and missiles. All those 99% we don't bother to hit just hit empty space and do no damage.'
I've seen other assessments of the US air defences that are not nearly as rosy, but the Navy Captain who was interviewed by Mr Sanchez must know what he's talking about, since he gets his official talking points in writing from the officer in charge of official replies to questions from TV interviewers.
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