Source : INDIA TODAY NEWS
US President Donald Trump on Friday said he would soon declare the Strait of Hormuz a territory of the United States, escalating his rhetoric over the strategically vital waterway that carries a significant share of global oil and LNG shipments.
“After we finish defeating Iran, pretty soon I’ll be declaring the Hormuz Strait a territory of the United States,” Trump said, without explaining how or when such a move could be implemented.
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The remarks came as the United States and Iran struggle to reach a deal to end their nearly six-month conflict. Trump also told Fox News that Washington would hit Iran hard economically.
US TO IMPOSE HARSH ECONOMIC MEASURES
Trump’s comments followed remarks by US Treasury Secretary Scott Bessent, who said on Thursday that Washington would impose measures on Tehran that had “never been seen” as soon as next week.
Trump has maintained pressure on Iran over its nuclear programme while defending US military action against Tehran. He said he would never apologise for attacking Iran.
TRUMP DEFENDS HIGHER GASOLINE PRICES
Speaking in Garden City, Trump urged Americans to accept slightly higher gasoline prices as the cost of preventing Iran from obtaining a nuclear weapon.
“What we’re doing is a great service for the world, not only for ourselves,” Trump said, adding that Americans paying “a tiny little bit more” for gasoline should understand the broader objective.
The remarks carry political risks for Trump as rising fuel prices conflict with his campaign promise to lower energy costs. Democrats have already sought to make the economic fallout from the Iran conflict an issue ahead of the November midterm elections.
HORMUZ REMAINS CRITICAL TO GLOBAL ENERGY
Around 20% of global oil and LNG shipments normally pass through the Strait of Hormuz, making it a crucial artery for international energy markets.
The possibility of prolonged disruption has pushed oil prices higher this week, with Brent crude approaching $90 a barrel. US gasoline prices have also climbed to around $4 a gallon.
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SOURCE :- TIMES OF INDIA
