E-Paper
Have to open up Strait of 'Trump': US President's intentional ‘mistake’ amid war
The Strait of Hormuz's closure has become the most pressing issue for the global economy, as it is the world's busiest oil transport route.
US President Donald Trump said on Friday that Iran must allow oil shipments to pass through the Strait of Hormuz as part of any peace agreement, while referring to the key waterway as the "Strait of Trump".
Notably, the route’s closure has become the most pressing issue for the global economy, as it is the world's busiest oil transport route. The disruption has led to a sharp drop in global petroleum supply, pushed fuel prices higher, and forced oil-producing nations in the region to reduce output by millions of barrels each day.
Follow Iran-US war live updates here.
Iran has to open up the ‘Strait of Trump’: US President
Speaking at a Saudi-backed FII Priority investment forum in Miami, Trump said on Friday that Iran has to open up the “Strait of Trump”.
Trump, who has renamed multiple buildings in Washington after himself during his second term, described his remark as a "mistake" before adding that "there's no accidents with me."
ALSO READ | ‘Passage of Indian-flagged vessels, tankers through Hormuz on a case-by-case basis’
“We're negotiating now, and it would be great if we could do something, but they have to open it up. They have to open up the Strait of Trump -- I mean Hormuz. Excuse me, I'm so sorry. Such a terrible mistake,” the President joked.
Trump said the media would pick up on the remark, but also added that "there's no accidents with me, not too many."
Repeating his claim that Tehran is willing to reach an agreement despite denying it publicly, the 79-year-old US leader said discussions were ongoing to end the conflict that has lasted a month.
Trump said Iran was "on the run" and claimed that its leadership, navy, air force and nuclear programme had suffered heavy damage.
ALSO READ | Will Hormuz Strait hit your booze? Beer prices to rise as India sees gas crunch
The Hormuz closure
The Strait of Hormuz is a curved waterway, around 33 kilometres (21 miles) wide at its narrowest point. It links the Persian Gulf to the Gulf of Oman. From there, vessels move onward to global markets.
Historically, the Strait of Hormuz has played its part in trade, carrying goods such as ceramics, ivory, silk and textiles from China through the region. In present times, it serves as the main route for large tankers transporting oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the United Arab Emirates and Iran.
Iran’s control over movement through the Strait of Hormuz, and in turn the flow of oil, remains its strongest strategic leverage.
The Strait of Hormuz was open to global shipping before the conflict, but the narrow channel has since been blocked, resulting in rising energy prices worldwide.
With inputs from agencies
