India, July 14 -- Indian shares opened lower on Tuesday after the U.S. reinstated a naval blockade on Iranian shipping through the Strait of Hormuz and proposed to charge a 20 percent transit fee on cargo passing through the strategic waterway, sending crude oil prices soaring.
In a post on X, Iranian foreign minister Seyed Abbas Araghci mocked U.S. President Trump over his proposal and said Iran has always been the GUARDIAN of the Strait and will remain so FOREVER. "20 percent is of course too much. We will be fair," Araghchi wrote.
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