The United States has launched a third night of strikes on Iranian military targets, with President Donald Trump announcing plans to impose a blockade on Iranian ports and charge a 20% fee for cargo passing through the Strait of Hormuz.

Iran's Revolutionary Guards claimed they targeted US facilities in the region, while the US military stated it hit coastal radars, air defences, and small boats to degrade Iran's ability to attack commercial shipping.In response, Iran fired missiles and drones at Bahrain, targeting US forces and other infrastructure.Trump declared the Hormuz Strait would be 'guarded' by the US from now on, with fees imposed on all cargo transit.The UN's shipping agency rejected the fee proposal, stating there is no legal basis for tolls on international straits.Meanwhile, oil prices surged over 9% due to fears of further disruption in the critical waterway.Iran insists it will remain the guardian of Hormuz 'forever,' rejecting Trump's demands as excessive.The escalating conflict threatens global energy markets and regional stability, with both sides refusing to back down despite calls for a ceasefire.