• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing

1

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead

2

Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline

3

Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
EnergyDonald Trump

Trump threatens to charge U.S. tolls in Strait of Hormuz for ‘services rendered as the Guardian Angel to the countries of the Middle East’

By
Kareem Chehayeb
Kareem Chehayeb
,
Bassem Mroue
Bassem Mroue
,
Munir Ahmed
Munir Ahmed
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Kareem Chehayeb
Kareem Chehayeb
,
Bassem Mroue
Bassem Mroue
,
Munir Ahmed
Munir Ahmed
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
June 20, 2026, 4:19 PM ET
President Donald Trump at Paris Orly Airport on June 17, 2026.
President Donald Trump at Paris Orly Airport on June 17, 2026.Mandel NGAN / AFP via Getty Images
Add Fortune on Google for similar content.

Iran on Saturday said that it closed the Strait of Hormuz because of Israel’s attacks in Lebanon and warned that while negotiators were going to Switzerland for talks with the United States on their interim agreement, not much likely will happen if the fighting doesn’t stop.

Recommended Video

U.S. President Donald Trump, in response, threatened to impose U.S. tolls in the crucial waterway if a final deal with Iran isn’t reached in 60 days, saying the money would be for “services rendered as the Guardian Angel to the countries of the Middle East.” His social media post underscored that the agreement calls for toll-free travel for 60 days.

The announcements indicated a rough start to technical-level U.S.-Iran talks that key mediator Pakistan said will begin Sunday, with Qatari mediators also participating.

Iran’s joint military command said the strait was closed because of the U.S. “clear breach of its commitments” by failing to end the war. The interim deal is meant to stop fighting on all fronts.

Shortly after that, Iran’s state broadcaster said that the negotiating team was leaving for Switzerland, a trip delayed from Friday. State media said that the team includes parliamentary Speaker Mohammad Bagher Qalibaf, Foreign Minister Abbas Araghchi and central bank and oil officials, among others. The deal calls for Iran’s assets to be unfrozen.

The U.S. disputed Iran’s announcement on the strait.

“Iran does not control the Strait of Hormuz. Traffic continues to flow, and U.S. forces are monitoring the situation to ensure this remains the case,” said Capt. Tim Hawkins, a spokesperson for U.S. Central Command. The military said that 55 merchant ships transited Saturday with more than 17 million barrels of oil.

Iran’s team departs for talks as uncertainty grows

Negotiations toward a final agreement will begin once key commitments are upheld, Iranian Foreign Ministry spokesperson Esmail Baghaei said. If they are not, “the memorandum of understanding as a whole will be jeopardized.”

U.S. Vice President JD Vance confirmed that top negotiators Jared Kushner and Steve Witkoff were in Switzerland and working through technical details of anticipated negotiations on Iran’s nuclear program. The interim deal gives negotiators 60 days to reach a nuclear agreement, but that can be extended.

Vance told Fox News that he expects to leave for Switzerland in “the next couple of days.”

As part of efforts to revive direct talks, Pakistani Interior Minister Mohsin Naqvi met with Araghchi in Tehran earlier Saturday, according to officials in Islamabad who spoke on condition of anonymity because of the sensitivity of the issue.

The global economy braced for more uncertainty.

Ships began transiting after the interim U.S.-Iran agreement was signed earlier in the week, a milestone that left plenty of questions unanswered. The U.S. lifted its blockade of Iran’s ports and now allows Tehran to sell its oil freely — terms that have left some in U.S. Congress asking whether the war was worth it.

Israeli attacks in Lebanon kill at least 16

A Hezbollah official told The Associated Press that Iran informed the militant group that Tehran won’t reopen the strait until Israel announces publicly that it will comply with a “comprehensive ceasefire” in Lebanon and an end to military operations there. The official spoke on condition of anonymity because he wasn’t authorized to speak publicly.

The official said that Hezbollah would commit to a ceasefire if Israel does.

An Israeli military official, speaking on condition of anonymity in line with regulations, later said that the military had received “updated directives from the political echelon to cease fire.” The official said that the military is operating in a defensive manner in Lebanon, which includes the right to respond to Hezbollah attacks.

The official also said that five Israeli soldiers had been killed in the past 48 hours in southern Lebanon.

Earlier Saturday, Israeli strikes on southern Lebanon killed at least 16 people, including two children, hours after reports emerged of a ceasefire agreement there. Seven people were trapped under rubble after strikes hit the southern city of Nabatiyeh and nearby villages, Lebanon’s National News Agency said.

The death toll in the latest Israel-Hezbollah war has surpassed 4,000, Lebanon’s health ministry later announced.

An Israeli military official said that Hezbollah fired more than 50 projectiles at Israeli forces in southern Lebanon overnight. Israel’s army said that it struck dozens of Hezbollah targets and militants.

On Friday, the Israeli ambassador to Washington, Yechiel Leiter, said that Israel “remains firmly committed to an immediate ceasefire,” if Hezbollah honors the agreement and ceases hostilities.

Earlier Saturday, Hezbollah said that it had committed to the ceasefire, but blamed Israel for violating it Friday night and said that it would repel attacks by Israeli troops.

The conflict could sink the US-Iran deal

Neither Israel nor Hezbollah are signatories to the deal between the U.S. and Iran.

Hezbollah and Israel went to war two days after the U.S. and Israel launched strikes on Iran on Feb. 28, with Hezbollah firing rockets and drones at northern Israel and Israel seizing large swaths of southern Lebanon.

A new round of U.S.-backed talks between the Lebanese government, and Israel is expected in Washington next week.

Israeli Prime Minister Benjamin Netanyahu has vowed to keep Israeli forces in southern Lebanon until any threat to Israel is eliminated. Hezbollah has refused to halt its attacks unless Israel commits to withdrawing from Lebanon.

Fighting continues near the Israel-Lebanon border

A strike on Lebanon’s Barish village killed four members of a family: parents and two children. In Arab Salim village, a body was pulled from a destroyed house, and in Doueir and Kfar Rumman villages, drone strikes killed a person on a motorcycle and a Lebanese soldier. Nine people were killed in strikes in Qannarit, Sohmor and Shehour villages.

Israeli jets flew low over the coastal city of Tyre. Residents told The Associated Press they were relieved that Tyre had been spared in recent days, but now they were reminded that the war isn’t over.

“Our entire lives would change if there’s a ceasefire,” said one resident, Hussein Khoshman.

Some residents of northern Israel doubted the fighting would stop.

“I don’t believe in a ceasefire because it doesn’t exist,” said Miriam Hod in Metula.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Kareem Chehayeb
See full bioRight Arrow Button Icon
By Bassem Mroue
See full bioRight Arrow Button Icon
By Munir Ahmed
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Energy

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Energy

oil
EnergyIran
Chevron’s profit nearly quadrupled. Drivers are paying for it at $4 a gallon
By Cathy Bussewitz and The Associated PressJuly 31, 2026
3 hours ago
Current price of oil as of July 31, 2026
Personal FinanceOil
Current price of oil as of July 31, 2026
By Joseph HostetlerJuly 31, 2026
5 hours ago
Aliko Dangote is leaving one-third of his $35 billion fortune ‘to humanity’—a rare move among Africa’s billionaires
Successphilanthropy
Aliko Dangote is leaving one-third of his $35 billion fortune ‘to humanity’—a rare move among Africa’s billionaires
By Sydney LakeJuly 30, 2026
24 hours ago
Bank of England (BoE) Governor Andrew Bailey, right, and BoE Deputy Governor Clare Lombardelli attend the Monetary Policy Report press conference.
BankingBank of England
Bank of England keeps interest rates at 3.75% for fifth time this year
By The Associated Press and Danica KirkaJuly 30, 2026
1 day ago
Current price of oil as of July 30, 2026
Personal FinanceOil
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
1 day ago
Dow COO Karen Carter wearing a white lab coat and sitting while smiling
EnergyDow
Dow’s new CEO is ‘blessed to be stressed’—and steering a turnaround amid oil market upheaval
By Jordan BlumJuly 30, 2026
1 day ago

Most Popular

He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
Success
He worked 100-hour weeks to save a nearly bankrupt boat company. At 83, he’s just turned down $400 million for it—and gave it all to charity instead
By Preston ForeJuly 29, 2026
2 days ago
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
Retail
Costco's $14 million email settlement: Who qualifies for an up-to $500 payment and how to claim before the Aug. 24 deadline
By Sydney LakeJuly 29, 2026
2 days ago
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
Big Tech
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
By Alexei OreskovicJuly 30, 2026
15 hours ago
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
Retail
'Am I paying for the vibes?' Gen Z says it hates capitalism, but their spending patterns show they just don't like being ripped off
By Nick LichtenbergJuly 30, 2026
1 day ago
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
Retail
The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line
By Tatiana SatauaJuly 31, 2026
8 hours ago
Current price of oil as of July 30, 2026
Personal Finance
Current price of oil as of July 30, 2026
By Joseph HostetlerJuly 30, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.