United States President Donald Trump has pledged there will be no tolls for passage through the Strait of Hormuz, unless they are collected by his own country.

Trump’s statement, made in a Saturday afternoon post on Truth Social, is the latest sign that a recently signed memorandum of understanding (MOU) may be unravelling.

“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,” Trump wrote, “unless they are imposed by and for the United States of America.”

Since the US and Israel launched a war against Iran on February 28, Iran has successfully used the Strait of Hormuz as a pressure point, closing the strategic waterway to traffic.

But under the terms of Wednesday’s ceasefire memorandum, the strait is supposed to reopen for an interim period of 60 days. During that time, Iran is barred from charging vessels for passage.

On Saturday, however, Iran’s joint military command said it had closed the Strait of Hormuz, citing a “clear breach” of the memorandum’s commitments.

US Central Command (CENTCOM), the agency that oversees military operations in the region, denied that report and maintained that the traffic continues to flow through the waterway.

The Strait of Hormuz has long been a flashpoint in the conflict between the US and Iran. Nearly 20 percent of the world’s oil and natural gas is transported through the strait, as well as about 30 percent of the global fertiliser trade.

Closure of the strait has caused global fuel costs to soar and has tested agricultural sectors across the world.

-AL Jazeera