Thursday, April 09, 2026

Wait! I Have It Here Somewhere…

Oil industry representatives met with senior administration staff in the State Department on Wednesday morning to raise concerns, said one person who said they attended the meeting.

Among their points: Conceding to Iran’s request would add $2.5 million to each shipment in tolls and higher insurance rates, a cost that would be passed on to consumers. Giving Iran control of Hormuz could set precedent for countries like Singapore and Turkey to charge tolls on important trade routes on the Strait of Malacca and Bosporus. And paying the toll could put companies in legal jeopardy for violating sanctions on Iranian officials.
Now where did they get that idea?
Iran is demanding that oil tankers passing through the Strait of Hormuz make toll payments in the form of cryptocurrency, including Bitcoin and stablecoins such as Tether’s USDT or the Trump family’s USD1. Vessels have been told to email Iranian authorities prior to passage through the area with details regarding their cargo, which authorities will then respond with a quote for passage through the toll to be paid in digital currency, reportedly set at $1 per barrel of oil, according to the Financial Times.
No, not there.
Under the two-week ceasefire plan agreed to tonight by both Iran and the United States, both Iran and Oman are permitted to charge fees on commercial vessels transiting the Strait of Hormuz, according to the Associated Press, with officials stating that the money received by Iran will be used to rebuild the country following the recent strike campaign by Israel and the United States.
Getting warmer!
Iran is declaring victory after Trump agreed to ceasefire, saying the U.S. adopted its terms—and it's hard to see it any other way.

Iran’s leadership is openly celebrating what it calls a “crushing defeat” for the United States after Donald Trump agreed to a two-week ceasefire and acknowledged using Iran’s own 10-point framework as the basis for negotiations.

Iran’s Supreme National Security Council says the U.S. has effectively accepted its core demands—including continued Iranian control over the Strait of Hormuz, acceptance of uranium enrichment, lifting sanctions, and even discussions of compensation and U.S. troop withdrawal. Essentially, Trump has, for now, given Iran everything they asked for.

Iran’s Foreign Ministry confirmed the same framework, stating safe passage through the Strait will now be coordinated under Iranian control during the ceasefire period.

So looking at statements from the U.S. and Iran, it seems clear Trump didn’t bring Iran to the table on U.S. terms—he appears to have moved negotiations onto Iran’s terms.

After days of escalating rhetoric, including Trump's threat that "a whole civilization will die tonight," Trump has now reversed course and is embracing the very proposal Iran put forward that a U.S. official called "maximalist" just yesterday.

For now, the world should breathe a sigh of relief Trump has backed down, though it feels that this was less of a "TACO"—and more of a surrender.
Almost there!
During an interview this morning ABC News, President Donald J. Trump appeared to endorse a condition by Iran in last night’s ceasefire that allows them to charge tolls on ships transiting the Strait of Hormuz, claiming that the fees may by a “joint venture” between Iran and the United States. “We’re thinking of doing it as a joint venture. It’s a way of securing it - also securing it from lots of other people. It’s a beautiful thing.”
There it is!

“It’s a beautiful thing.” Except Trump has no idea why anybody thinks Iran is in control of the Strait as one of the terms of the ceasefire.

(Is Trump demented? Desperately lying? About to call it ABC News “FAKE NEWS!” and declare the video to be an AI construct? Or does he truly not know what the fuck he’s doing?

Signs point to “YES”.)
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