WASHINGTON, July 13 (Reuters) - President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway.

U.S. and Iranian forces exchanged heavy missile and drone attacks over the weekend and into Monday, with Tehran saying it had struck U.S. military facilities across the Gulf and kept the Strait of Hormuz closed,

The U.S. and Iran's contradictory interperations of the memorandum of understanding have led to renewed fighting over the Strait of Hormuz.

The U.S. and Iran each asserted Monday they controlled the Strait of Hormuz after a weekend of attacks stretching across the wider Middle East, further threatening any deal to end the war.

The U.S.-Iran ceasefire is on the verge of collapse, and with it any prospect of restoring normal traffic through the Strait of Hormuz. Even if the agreement holds, transit fees, sea mines, billions in infrastructure damage,

Add Yahoo as a preferred source to see more of our stories on Google. U.S. Central Command said Friday afternoon American forces conducted strikes against Iran "as a powerful response" to Iran's strikes Thursday against a cargo ship in the Strait of Hormuz ...

A Singapore-flagged Evergreen cargo ship was attacked in the Strait of Hormuz Thursday, putting the fragile memorandum of understanding signed by the U.S. and Iran last week at risk. U.S. officials said Iran’s Islamic Revolutionary Guard Corps (IRGC) was ...