US President Donald Trump said on Tuesday that the Strait of Hormuz is now open for all ships except Iran, noting that oil is 'flowing like never before,' thanks to what he described as 'the tremendous power of the US military.'

Trump added, in a post on the platform 'Truth Social,' that the Strait of Hormuz is now open for all ships except Iran, accusing the Iranian leadership of 'lying, practicing violence, and following the path of mass destruction.'

The US president announced that the United States will impose a 'complete blockade,' but it will be limited to ships heading to or from Iranian ports, or carrying any shipments related to Iran.

He continued: 'Based on highly fruitful talks with Middle Eastern leaders, I have decided to replace the proposed 20% fees on ships with trade and investment agreements signed by Gulf countries with the United States.'

He added: 'These investments will be enormous, and at the same time will benefit both the United States and the Gulf countries alike,' adding that his country already holds the largest volume of dollar-denominated investments in its history, and that new investments will raise this number to unprecedented levels.

He explained that this step will lead to the establishment of factories, facilities, and equipment inside the United States at historic levels, contributing to the creation of millions of high-paying American jobs.