There will be no tolls. However, there will be fees.
Trump on Tolls
Truth Social: There will be NO TOLLS in the Hormuz Strait for 60 days during the Cease Fire Period, and there will be NO TOLLS after the 60 day period has expired, unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs. Thank you for your attention to this matter!!! President DJT
Jun 20, 2026, 1:15 PM
A Word About Tolls
Trump is correct there will be no tolls.
Charging a toll is illegal under international law, but some fees are allowed for services.
It is unclear what services Iran will provide, but how about navigation guidance?
I suspect tolls guidance fees will run about $1-$2 million per ship depending on size. That would add about $1 per barrel, paid by the ship owners, not the producers.
To have oil flowing again, would anyone strenuously object?
And Trump will be happy, no tolls before or after.
Iran’s Navy?
More on Who Has the Cards
We hold all the cards but Iran can close the strait with it’s nonexistent navy.
Quite amazing.
Vance to Netanyahu
Trump on Netanyahu
Trump Should Turn on Iran
Closure Bluff or Reality
The Negotiations Must Go On
And they will.
It is in the best interest of Iran and the US for oil to flow, so it will.
But Iran will use every bit of leverage it has over Trump (substantial) to inflict pain on both Trump and Israel.
In the early days of the war I made a key prediction.
Flashback March 29, 2026: Who Has the Upper Hand in the War?
Iran has no timeline at all. It’s only goal is to inflict as much pain on Trump and Israel as possible.
This will not be over in 4-6 weeks unless Trump makes major concessions to Iran.
That has proven to be an accurate prediction.
Is all this anti-Trump hate talk just orchestrated Israeli propaganda? Are all you fellers Jewish? That would explain a lot.
Do you have five seconds to list all of Trump’s accomplishments in the Middle East since late February? It can’t take longer than that. I predict no reply or deflection, unless you are seduced by the “play the victim card again” temptation.
Thanks for your thoughts.
Thanks, Mish for reminding us that Trump lied about the war being over in 4-6 weeks. In fact, he lied about it being over in “2-3 days” at the beginning, too. Then he just kept on piling lies, upon lies, upon lies. Gas prices would be down “faster than ever” when the war ended … except, they aren’t. $3.60 around these parts. Now that the Strait is closed, they will probably creep up again for the travel-heavy 4th of July weekend.
Young folks should be out in the streets protesting in a “summer of rage.” Today is the first day of summer, so maybe there is still hope.
This soap opera will now be a fixture in US overseas policy for a least a few years, get used to it
The orange moron clearly doesn’t have the brains, worldview, or experience to deal with it. The rest of his “team” doesn’t either, so hopefully they go down with the ship too
Its also been clear from the get go that Trump’s attack on Iran threw the IRGC a lifeline when they were close to drowning, and now they have masterfully parlayed it into a future for themselves.
As usual Trump’s ignorance has made things worse – he’s a totally incompetent ass
Lindsey Graham has weighed in: “If this deal fails, President Trump is going to take the Strait of Hormuz over by force,” Graham said. “The United States will control the Strait of Hormuz, we’ll charge a fee for all those who go through to pay for the operation.”
Lindsey is bought and paid for by AIPAC; it’s interesting how they are shifting blame to Vance, enabling Trump to get back on the bootlicking bandwagon by simply throwing Vance under the bus.
It is hysterical that Vance is threatening Israel and Trump is threatening Iran.
A bit like Bevis and Butthead!
Together?
No Oil, No Gas, No Fertilizer, No Sulphur, No Helium…
Add BiBi and you have bombing schoolgirls and death all around Israel’s borders.
Why are the Israeli’s attacking all of their neighbors? They could be living in peace, but instead they have to constantly grab lands from other theocracies and tribes.
The way this is going Israel is going to find itself with our any allies and a whole lotta enemies. Got Popcorn?
They are on a quest for Lebensraum, even as they conduct a genocide in Gaza. Whom does that remind you of?
America holds the cards:
It’s either or.
Do as promised in the first paragraph of the agreement, or keep up the rougue behavior.
In the last 12 hours Trump has:
All this while Vance is trying to negotiate the implementation of the terms of the US surrender; the generous terms that Iran has offered.
Trump should be threatening Israel to withdraw from Lebanon, but he is terrified of Netanyahoo and the Israel lobby. What a craven little man.
What many forget was that America was created from war, from both the war with Native Americans, and the King and his allies. There’s a reason we’re called the “mercenary nation” (others call it “Cops of the world.”
We’ve always been a gun for hire, and our history with Iran proves it. As, on the request of the British, we over threw the elected government of Iran in the early ’50s.
This is why I believe it will be hard for the US govt to abandon Israel, due to the money the Israeli lobby gives the govt. And the current talking points of Trump, as you pointed seems to suggest (at least for now) the US is backing Israel.
Absolutely, but what is different this time is Iranian control of the biggest global energy choke-point. Abandon the Zionist war criminal state or risk global depression. So glad that a stable genius like Trump is at the helm.
The “money” Israel gives to US politicians is US taxpayer money. The US send $50 billion in “aid” and half that money goes to buying US politicians. It’s a disgusting vicious circle that needs to stop.
It won’t be hard at all, it will only take a change of politicians booted out of office and it shall be done. The rise of figures like Mamdani in New York and Janeese Lewis George in D.C. are the starting points.
https://www.washingtoninformer.com/dc-mayor-palestine-israel-stance/
The clock is ticking.
I don’t think America is so much a gun for hire as a bona fide empire. Asimov thought that an empire was better than a free-for-all. It’s a good question. The one thing that seems to be clear is that an empire breeds a lot of people who can’t defend themselves, and in many cases can’t think either.
I filled up witn $3.35 gas yesturday. Now I have to figure out how to make it last until Christmas.
My wife has burned about 55 miles of gasoline range with her plug in since we acquired it ten weeks ago. We are just about on track to make it to Christmas. I can suggest a very simple solution for your gas consumption issues.
Wow.
This just crossed my news feeds.
https://x.com/TreyYingst/status/2068685921956798640
At least for now Trump backing Israel. I don’t like the fact he uses language like this, telling the Iranian delegation team they wont make it back home, it’s not befitting of the position he holds or what he’s trying to achieve with Iran.
That is unless failure is the plan.
If Trump could have done anything, he would have done it by now. Trump is the wizard behind the curtain blowing smoke. The sad thing is he still believes his demented lies carry any weight.
Trump has two options: nothing and like it.
Bibi reminded Trump that he has many interesting photos of the shitgibbon.
“That’s Golden, Jerry! (sic)”
If Iran were smart, they would charge an “environmental fee” to get ahead of dems winning midterms and the next presidency.
Summer is here and the Strait is closed. 🤑 Who’s ready for a cruel summer?
Bibi bet it all at the Trump casino and lost big. What’d else did Bibi expect from a serial bankrupt casino owner?
https://www.ynetnews.com/opinions-analysis/article/skvctfhzzg
For a decade, Netanyahu placed Israel’s Iran strategy on Trump, alienating Democrats and much of the West; now the US president’s deal with Tehran leaves Jerusalem isolated, humiliated and searching for ways to limit the damage
Do worry, Trump & Walrus will find a way to make things even worse.™
Iran is calling it insurance. Quite defensible and with a tongue in cheek.
So the Vice President answers to “Steve and Jared”.
Article in the post today with evidence Tulsi Gabbard was a Manchurian candidate all along, receiving direct marching orders from her Hare Krishna associated cult. 😮
Good lord! The Hare Krishnas! I had forgotten about them.
Truly the hand behind the curtain, that bunch.
She must be good at it, then, because a lot of us who normally can’t stand women in politics and are skeptical about anyone with just a little bit of blood from outside of the civilized world just adore her.
Lol problems with women, sure your opinion matters
Another good article Mish, yours is a great website for clear-eyed people who want to cut through all the propaganda and get the facts
Trump fools nobody.
Moreover, before February 28, the Straits were open. Iran was still only two weeks away from The Bomb, just as they had been at all times since around 1984.
Netanyahu was demanding that the Americans attack, just as he has at all times since he was spawned.
Yes, because Israel’s belief is that anyone who says bad things about Israel deserves to die, along with all of their family, friends, and any innocent bystanders including babies.
Really, it is no exaggeration; that is what they truly believe.
Israel commandeering nuclear bombs since 1948
Iran on the verge of nuclear bomb since 1984
Good number mnemonics to scaffold the whole narrative
He’s been the bad boss, the bad son, the bad friend, the bad husband, the bad father, the bad credit risk, the bad money-manager, the bad innovator, the bad follower, the bad date, the bad sport, the bad citizen, and a bad-man to children and women. Is it a surprise he’s the bad president?
Trump is a successful carnival barker.
He had the reputation in the trade of being a competent hotel-keeper. Of course, the Patels who own the Motel Six can say the same, and would Mrs. Patel probably make a better president.
The difference between Mr. Patel and Trump being Mr. Patel had to sacrifice and risk everything to make his Motel 6 successful as opposed to inheriting $200 million from daddy.
Also, Mr. Patel and his family work like rented mules, rather than grift and talk about how great they are.
A major bunkering (ship refueling) operator warns of local shortages in ships fuels in July, with widespread shortages in August and September (more of the heavier weight fuels being burned up in the production of lighter weight fuels)
An example of the sand building up in the gears of returning the economy back to “normal”
The first order of resumption needs to be “keep the ships fueled”
https://shipandbunker.com/news/world/102872-mercuria-warns-of-bunker-shortages-at-major-hubs-within-months-report
who hold cards?
Politicians hold all the cards.
Nobody can beat the politicians’ mouth.
Ah, you forgot about journalists. Journalists can destroy an honest politician and build up a crooked one. Journalists are priests, who live by deception: politicians are brokers, who stand between the government and its prey.
– President Trump Is Now Completely Turning On Netanyahu Going As Far As Calling Him Insane After The Israelis Publicly Sabotage The Iran Peace Deal By Striking Lebanon Hours After The Jewish State Signed A Ceasefire With Hezbollah. > So a very frustrated Trump, is now blaming Israel? For what exactly? Israel didn’t sign a “Peace Plan” with anyone, that I am aware of. They also are protecting themselves, and maybe if Trump would stfu for one single second, if at all possible, he would understand the situation better. Maybe then he would stop making deals for himself, that he expects others to follow as well. I will say it once again… Can Trumps Truth Social acct. be frozen for 1 month? I’ll take a day or two honestly! Can he pass the negotiations onto a better spoken and more polished speaker and negotiator? That could / would help immensely imo!!
– BREAKING: Iran says the Strait of Hormuz will now remain fully closed even if the US fulfills all remaining MOU commitments, including the $300 billion reconstruction fund, frozen funds release, naval blockade removal and oil sanctions waivers. > Just laughing in Trumps face now. They have figured out a few things about Trump. He waivers on his commitments, making his word garbage. He talks irrational about many things he is placing demands on, making them a moot point before he is even done speaking. He can’t be trusted to keep his word, as he changes like the wind. He doesn’t speak the truth about what he states will happen, so they totally know he is bluffing most if not all of the time. He is dishonest in negotiations and ironically for himself and his own agenda, which is not being a negotiator, but rather more of a confused individual, lost in the moment and the issues at hand escape him, issues threats he has no intentions of following up with, making him a paper Tiger, and just a liar about what and why he is going to do, or not do something. He rarely does what he says, or says what he actually ends up doing. He is at a point of being ridiculous in his rankings. No strength, no ability, no teeth, no action, and hence no concessions from anyone in the Region at the moment, and that’s included there supposed friends too… WTF is Trump doing?
– It is in the best interest of Iran and the US for oil to flow, so it will. > So it’s no longer Trumps call, which means Trump is no longer in charge, if he ever was in this fiasco of a useless fight, with no ending that makes sense for why we did so in the first place.
– But Iran will use every bit of leverage it has over Trump (substantial) to inflict pain on both Trump and Israel. > As they have from the very start, and it appears have been and will continue to play Trump like a fool! He won’t shut up, so they make him eat his own words over and over again. It gets easier and easier, as he continues to provide fodder for them!
– In the early days of the war I made a key prediction. > And you appear to have been Spot On Mish!!!
– Iran has no timeline at all. Its only goal is to inflict as much pain on Trump and Israel as possible. This will not be over in 4-6 weeks unless Trump makes major concessions to Iran. That has proven to be an accurate prediction. > 100% Accurate!
– “The current Iranian leadership are very rational people. They are nice to deal with; they are strong and smart people. They are not radicalized, and they are looking to help their country.” > More rational than Trump for sure, easier to deal with truthfully for sure, have goals in mind and do not waiver like an all over the map, throw it against the wall and see what sticks kind of guy Trump is.
Yes, Trump is a moron. Always has been. The only thing he ever succeeded at was a tv show where he had to be an a$$hole with just a two word line. That’s why the smart half of the country never voted for him. But we’re stuck with the other half.
Halfwit Trump has form in pretending to disagree with Israel as cover for an attack.
So now nobody can trust a word out of Trump’s lying mouth. Maybe this time the dispute is genuine. Maybe not.
“So now nobody can trust a word out of Trump’s lying mouth”
Now?! It has always been that way, nothing has changed. Same as it ever was.
Because Trump has no principles at all, he has an unusual ability to change his position at any time.
That’s sort of my point. It means Trump can never be trusted, unless Israel has a gun to his head.
Turns out Stu can’t quit us after all. Nice try finding a substitute!
Oh, so we’re back to the two Zionist spies negotiating on behalf of the USA. Got it.
Iran: Did Trump Cave In?
by Amir Taheri
June 21, 2026 at 4:00 am
By the time you are reading this column US President Donald J Trump and his Iranian counterpart Masoud Pezeshkian have electronically initialed from a distance of 6,000 kilometers a memorandum of understanding (MOU) to halt the latest episode of a war that started between the two nations 47 years ago.
Trump has already upgraded the MOU, the text of which wasn’t revealed, by claiming that it will bring peace to the whole region.
He has also talked of a $300 billion reconstruction fund to revive Iran’s decaying economy and, in the process, line the pockets of mullahs and jackboots still in power in Tehran seen by him in a glowing light.
Receiving UAE President Sheikh Mohammed bin Zayed Al Nahyan at the G7 summit in Evian, France, Trump had this to say about what is left of the leadership in Tehran:
“The current Iranian leadership are very rational people. They are nice to deal with; they are strong and smart people. They are not radicalized, and they are looking to help their country.” 🤣🤣🤣🤣
…
https://www.gatestoneinstitute.org/22632/iran-did-trump-cave-in
Actually the first truthful thing Trump has said. He’s actually had to talk and deal with them. Not just get brainwashed by Fox News like most of his voters.
So long as nobody sees the text of the “Upgraded” MOU, we can all be 100% certain it solves every problem that existed.
I think one of the problems here is that you and others continue to refer to “Iran” as a single operational entity, which it is not.
The Iranian Regimes (which is how you should refer to the Iranian entity) political arm is separate from the IRGC military arm.
Trump appears to have signed his MOU with the political arm. The military arm seems to have its own ideas.
The military arm is saying they will charge tools and will/have closed the Strait.
Who should people listen to?
Is this an analog to the assertion by some that Palestinian people, per se, do not exist? I.e., a justification for a fast forward to more sweeping actions?
More like they aren’t really people at all. Sub-humans for which the Jews need to find some final solution.
How kind of you to educate us on the basics. Where do we send our funds as thanks?
I’m sure Iran would prefer that peace prevail, but I don’t know how much of this Trumpian happy horseshit – talking out of both sides of his mouth – they will put up with. As the Lord said “Let your ‘Yes’ mean ‘Yes,’ and your ‘No’ mean ‘No.’ Anything more is from the evil one.” Matt 5:37
Never heard of white man speak with forked tongue ?
Tolls vs fees are a difference without a distinction. No different than our local city councils switching from property taxes, which get voted down, to street and saaaaaaaafety “fees” which can’t be questioned. Either way we the sheeple pay more.
But “the sheeple” in your example will not support the raising of needed revenues. They want free stuff. So municipalities are forced to shift around names to pay for things like road repair and police. This (alongside any actual waste, fraud, etc.) is true throughout the political system, and is a huge feeder into deficits seen everywhere.
but you see the flaw in your own comment–the sheeple don’t support raising of revenue (i left off needed) because they see actual waste, fraud, incompetence, inflated costs (like prevailing wages) that, if funded behind the facade of your word “needed”, will continue to be the first place where that revenue goes.
the sheeple are tired of paying tolls, fees, service charges AND taxes, along with interest on debt issued by the same municipalities charging tolls, fees, surcharges and taxes, because govt spends on anything and everything, firstly the grift and fraud, then waste, inefficent deployment and incomplete solutions.
taxpayers and Americans in general are tired of paying, watching them still need to borrow, only to have problems not get resolved and the connected public sector abusing taxpayer wallets all the while being overcompensated.
if they were sound stewards of these “needed revenues” then they wouldn’t be in debt at every level.
Iran is calling the toll an insurance. Got to give it to them. After all, Iran defeated the indispensable nation and its finest fighting force in the world demonstrativo that neither is that.
Correct, ergo it is essentially: Would you like to pay $1MM pink dollars to pass the Strait or are purple dollars what you fancy paying with today?
All is well with the Chief Pedophile of the United States. No mention of Epstein. Epstein who?
Assuming the “conflict” between BiBi and Donny is not all just a psyop, perhaps when Bibi threatened Donny (again) with a public screening of the Epstein videos, Donny suggested “no aid for you…”
“Iran has no timeline at all. It’s only goal is to inflict as much pain on Trump and Israel as possible.”
I’m not sure I’m picking up what you’re laying down here Mich.
“It is in the best interest of Iran and the US for oil to flow, so it will.”
If Iran let’s the oil flow what pain can Iran inflict if it refuses to disrupt oil flow?
In my opinion I’d have closed that waterway down as soon as Israel even looked at Lebanon after signing the MOU and told both Israel and the US to go play with sheep and let them deal with the world being plunged into a depression.
The closure of Hormuz is the biggest source of pain Trump felt, and proof of this is that Trump himself said the world had only 4 weeks in both oil and economy till it all went off the cliff if it were not opened up again.
So without Hormuz what pain can they really inflict (you could claim bombing the other oil states but in my view that isn’t inflicting pain on Trump; that’s just shifting their anger on innocent oil states)?
Forgive me, I meant to say Mish.
There is an edit feature. Little grey gear symbol at lower right of post.
This is true, but it’s lost when the browser closes (eveything wipes). Also I often have my posts put into review if I edit right away or exit them too much (in both cases labled as spam). Its a fickle system it seems.
When the world plunge into recession – if there is market correction in US it will be 20 trillion loss as 20% drop of stock and bond market value. If recession or depression it will be 40 or 50 trillion loss. That is staggering loss and no Central Banks can rescue this time because of massive debt around the world including US.
The way that I look at it is that the Western allience (as well as the rest of the world though there is a sizable portion of the world moving away) are locked into dollar dominated markets.
Part of this is because loans from the world bank are in dollars, credit systems between countries (SWIFT) is in dollars, excange markets like in India, and so on. Proof that the dollar dominates world markets, and thus can hardly be escaped, is that 85% of currency transactions (FX) are in US dollars. It’s why some say the dollar is the most liquid asset in the world.
Given the dollar’s dominance, and given the size and reach of just US markets, investors seeking a return on their investments will seek out both the dollar and US assets when facing uncertainty while their economy is in contraction (recession/depression). And this is why US markets have been going up, basically.
This could go on for a while, and the only thing that probably will break it (as all I can see for at least a decade is more war, perhaps nukes, which means more uncertainty, and more economies unraveling; not to mention the supply shocks) is a debt based monetary crisis within the dollar. Once that happens the whole thing unravels.
This momentum in US markets could increase substantially if the US actually had the production capacity it had in ww2 to supply its allies with weapons. And such production could kick the can on the eventual monetary crisis where it unravels, but alas even as countries around the world are gearing up the US lack s such capacity. Thus weren’t that far away from the great unraveling.
Why would you consider the other gulf states innocent? They provide land and support for American military bases to attack Iran. I would consider them responsible parties in the murder of every Iranian.
That’s a fair point, but many have showed an unwillingness to be used by the American military mostly in fear of what Iran will do.
That said I, however, do see them as innocent as they’re not directly engaging in war with Iran, so far, and that is after Iran hit critical infrastructure in many gulf states.
And the fact they haven’t helped Israel (even with a different ideology, as the enemy of my enemy is my friend) in attacking Iran (even though the two different sects often have gone to war on history) seems to suggest they are taking a neutral stance (Swiss ww2).
Damn straight. The Gulfie tyrannies were all for finishing the Shia off, once and for all, until they found out that Iran can fight back and the Americans would not protect them.
Facepalm time: “talking to Steve and Jared this morning” said JD.
Yes, the Reimax Twins are Bürgenstock-bound.
Trump: “My son in law, Jared, not the Subway sandwich guy, he’s in prison, totally different guy, not a criminal pervert at all, but my Jared, he’s an expert on this nuclear stuff, in fact he has an amazing collection of watches that glow in the dark, you’ve never seen anything like it.”
Married to my daughter, did I mention that? And my golf buddy, are over there restructuring the world.
Doing their best to Make Persia Great Again.
So let them shut down the strait. Impose a moratorium on US oil exports and watch US oil prices drop. Let the Gulf producers, the Europeans and the Chinese deal with high oil prices on the Brent market. Seems like a good way to let them all put skin in the game.
If the price isn’t sustainable wells and refineries will get shut down. And others can also retaliate via tariffs and embargoes of their own on goods.
To your point – I interviewed a fracking oil company owner the other day who is concerned that if oil drops to and stays down or below $70 per barrel for any major length of time that much U.S. production ceases. Yep, another oil shock WITH the strait open.
More than any commodity right now, crude oil needs to stay within a price band – a Goldilocks Zone of sorts. The zone is generally said to be between $65-90, and outside of that its price is a destructive force on world economies, for differing reasons in each case.
“Impose a moratorium on US oil exports “
I have significant investments in Exxon and Chevron. How about you vote better next time, and leave my investments alone.
We produce 14-15mbpd and consume ~20mbpd, how do you propose solving the gap?
Taco has lied and misled so many times that he honestly doesn’t know what the truth really is.
If you are going to lie and mislead successfully, you need to have a very good idea of what the truth is, and of what other people know and don’t know, so you can judge where they will give you the benefit of the doubt. Being a dealmaker may have some things in common with this.
Trump is in a trap, of his own making. His mantra of attack, deny and proclaim victory must now fade to the latter most. Alas for us, the victory will only be in weathering the storm.
Yes, as I put it, it is unavoidably in his nature to keep restlessly lunging forward until he finds the barrier that can stop him.
Everything, and I mean everything, in his communication is an arrow toward an exclusive, desired perception and action. 24/7/365 spin and salesmanship.
You would not have received these down votes, were people not aware of your meta-messaging.
You might know more about my “meta-messaging” than I do.
> “he honestly doesn’t know what the truth really is.”
The line between “fact” and “opinion,” as legally defined in communications laws such as fraud and defamation, have always been blurred in his statements, whatever their spontaneity was. He has the pure brain of a salesman. How this actually processes inside his head is an intriguing mystery, though it is so blatantly observable. I would call it a “processing layer” that, in real time, forms everything as a sales pitch, with the non-factual content blended right in, in a virtuoso way (hence his standout achievements with it, and a mass audience). A glaring example is his posting of “Truths” on his “Truth Social.”