U.S. President Donald Trump called on Americans to be willing to pay slightly more for gasoline to prevent Iran from acquiring nuclear weapons. He hinted at declaring the Strait of Hormuz as U.S. territory soon. The president’s stance faces challenges as increased fuel prices clash with his pledge to lower energy costs, setting the stage for potential political debates ahead of the November midterm elections.
During a speech in Garden City, N.Y., Trump emphasized the importance of the increased gasoline prices, stating it was necessary to prevent a “very evil country” from obtaining nuclear capabilities. He defended his administration’s actions, asserting that the efforts were beneficial not only for the U.S. but also for the global community.
Around 20% of global oil and LNG shipments pass through the Strait of Hormuz, leading to concerns about oil price hikes due to potential disruptions. Trump’s remarks about potentially declaring the Strait as U.S. territory have raised questions about the seriousness and implications of such a move.
In response to Trump’s comments, Kazem Gharibabadi, Iran’s deputy foreign minister, dismissed the idea of the U.S. seizing control of the strait, emphasizing Iran’s authority over the critical waterway. The escalating tensions surrounding the Strait of Hormuz continue to impact global energy markets, with Brent crude nearing $90 per barrel and U.S. gasoline prices reaching approximately $4 per gallon.