President Trump has expressed frustration over Iran’s management of the Strait of Hormuz following the initiation of a two-week cease-fire, asserting, “That is not the agreement we have!”

In a post on Truth Social on Thursday, Trump criticized Iran’s actions, stating, “Iran is doing a very poor job, dishonorable some would say, of allowing oil to go through the Strait of Hormuz.”

The Strait of Hormuz, a crucial passageway through which 20% of the world’s oil is transported daily, has seen significantly reduced activity since the United States and Israel commenced “Operation Epic Fury” with initial strikes on Iran on February 28.

According to the Hormuz Strait Monitor, only nine ships navigated the Strait in the past 24 hours, a steep decline from the typical daily average of 60 vessels.

As reported by NBC News, just three oil tankers, all subject to U.S. sanctions, have traversed the waterway since the provisional cease-fire began on Wednesday.

Among these tankers, one was transporting a million barrels of oil, another was not loaded, and no information was available regarding the third vessel’s cargo.

Tehran agreed to reopen the Strait under the 10-point ceasefire plan, which Washington described as “workable,” but Iranian officials have claimed they plan to charge vessels $2 million to pass through, the New York Times reported.

They said the money would be used to rebuild infrastructure damaged by the US and Israel.

Trump warned Iran to stop charging vessels if it is doing so. 

“There are reports that Iran is charging fees to tankers going through the Hormuz Strait — They better not be and, if they are, they better stop now!” he snapped.

Trump’s blistering rebuke came after he didn’t rule out a US-Iran toll collection joint venture.

“We’re thinking of doing it as a joint venture,” Trump told ABC reporter Jonathan Karl when probed.

“It’s a way of securing it — also securing it from lots of other people. It’s a beautiful thing.”

Trump previously claimed there was “big money” to be made after securing the ceasefire – boasting it could lead to what he branded The Golden Age of the Middle East.

Shipping experts have warned how a toll booth system in the Strait could set a dangerous precedent. 

“Freedom of navigation has always been recognized, including specifically in straits,” maritime expert Philippe Delebecque said.

“The concern is if the Strait of Hormuz could be closed, then why not the Strait of Gibraltar between the Mediterranean and the Atlantic, or the Strait of Malacca off Indonesia?”

Julien Raynaut, the head of the French Association of Maritime Law, said if Iran introduces a tollbooth, then China could roll out similar restrictions when it comes to the Taiwan Strait.

With Post wires.