Iran Defiant, US Warns of War Threats Amid Economic Tensions Over Strait of Hormuz
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Iranian officials have been defiant in the face of economic threats, saying Mr. Trump “miscalculated” in waging war against their country. Iran says no ships may transit the Strait of Hormuz without its authorization, contradicting Mr. Trump’s claim of U.S. control over the waterway.
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CNBCIran rebuffed U.S. President Donald Trump's claim that the Strait of Hormuz would soon become U.S. territory, as a ship in the crucial waterway was reportedly struck and negotiations with Tehran appeared no nearer to resuming.
ZeroHedge"The Strait of Hormuz has been Iranian, is Iranian, and will remain Iranian," he wrote, as translated from Persian to English. "This strait will only be closed and opened under Iran’s command."
FortuneThe U.S. can’t fully reopen the Strait of Hormuz, and Iran can’t stop every ship from transporting oil through narrow waterway.
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In a speech on New York's Long Island, Trump introduced the idea of declaring the Strait of Hormuz a US territory. "After we finish defeating Iran, which is being very badly defeated — pretty soon, I'll be declaring the Hormuz Strait a territory of the United States," Trump told a crowd of law enforcement officers.
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CNBCEarlier, Trump claimed that after the U.S. defeats Iran, "pretty soon I'll be declaring the Hormuz Strait a territory of the United States."
Common DreamsIn yet another remark that triggered alarm around the world, President Donald Trump said Friday that he planned to declare the Strait of Hormuz—which Iran has blockaded for much of the past five months over his and Israel's illegal war—a US territory.
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The result has been a stalemate where oil prices stay choppy but relatively in check and missiles are still launched without all-out war returning. This uneasy equilibrium, however, isn’t likely to last.
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CNBCAmid the military and diplomatic stalemate, energy prices remain elevated compared to pre-war levels.
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"So for you to pay a tiny little bit more for your gasoline, just remember you're doing it so that a very evil country cannot have, a country that really is the number one state sponsor of terror in the world," Trump said in his speech.
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Common DreamsAfter high initial claims about lower prices, Trump admitted that gasoline has soared due to his war, but said: "For you to pay a tiny little bit more for your gasoline, just remember, you're doing it so that a very evil country cannot have a—a country, really it's the No. 1 state sponsor of terror in the world—we don't want to have them have a nuclear weapon. So, remember that when you have to pay a little bit more, you're at $4, it's OK. I'll never apologize. I did the right thing."
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Mr. Bessent said coming actions “will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports.”
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CNBC"It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," Bessent said in a Newsmax interview Thursday night, without elaborating further.
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Covert mideast oil flows are keeping global prices in check The trade of ferrying oil through the Strait of Hormuz undetected to transfer the barrels onto tankers in the Gulf of Oman is running at full tilt.
6 details only one outlet reported
Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 CNBC Separately, the United Kingdom Maritime Trade Operations Centre (UKMTO) — an organization backed by the British Navy — said Saturday it received a verified report of a bulk carrier "being struck by an unknown projectile which has hit the hull."
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02 ZeroHedge "Essentially, that's what it is. We have the blockade. No ships get through unless we want them to," he added. He claimed oil prices were coming "way down".
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03 Fortune At the same time, the U.S. is preventing Iran from exporting its crude supplies or importing critical goods, while American forces grapple with munitions and readiness issues.
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04 Bloomberg Iran MOU Expires With Diplomacy Still in Play Bloomberg News Middle East Reporter Dan Williams is on Bloomberg This Weekend discussing how the expiration of the US-Iran memorandum of understanding is unlikely by itself to trigger a return to all-out fighting, with diplomatic efforts over the Strait of Hormuz continuing despite repeated attacks on commercial vessels. Williams explains to hosts Joe Mathieu and Carol Massar that the Trump administration is increasingly emphasizing economic pressure on Tehran as hopes for a broader settlement remain elusive and Israel assesses whether sanctions could force Iran toward concessions. (Source: Bloomberg)
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05 Common Dreams Just two days after the latest inflation figures demonstrated, in the words of one expert, "Trump's catastrophic mismanagement of our economy," the president ignored the economic fallout from his war, which led Iran to restrict ship traffic through the strait, driving up fuel prices worldwide.
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06 Washington Times Business Treasury Secretary Scott Bessent says President Trump plans to drastically dial up financial pressure on Iran as the Middle East conflict reverts to an economic war of wills.
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Sources (6)
- washtimes-biz
- bloomberg
- zerohedge
- commondreams
- fortune
- cnbc