U.S. President Donald Trump has suggested he could soon declare the Strait of Hormuz a U.S. territory, escalating his rhetoric over the strategically important waterway as the conflict with Iran continues to affect global energy markets.
Speaking in Garden City, New York, on Friday, Trump defended higher gasoline prices in the United States as a consequence of efforts to prevent Iran from obtaining a nuclear weapon. He urged Americans to accept paying slightly more at the pump, arguing that the military campaign against Iran was providing a broader service to the world.
Trump then said that after the U.S. finishes “defeating” Iran, he could soon declare the Strait of Hormuz American territory. It was unclear whether the statement reflected a serious policy proposal or was rhetorical, and no formal change in U.S. policy was announced.
Iranian Deputy Foreign Minister Kazem Gharibabadi rejected Trump’s remarks, saying the strategically vital waterway could not be seized through political declarations or military power. He maintained that Iran would determine whether the strait remained open or closed.
The Strait of Hormuz is one of the world’s most important energy corridors, with roughly 20 per cent of global oil and liquefied natural gas shipments normally passing through the waterway. Concerns about prolonged disruption have contributed to rising energy prices, with Brent crude approaching $90 US per barrel and U.S. gasoline prices climbing to around $4 US per gallon.
The increase in fuel costs also presents a political challenge for Trump, who campaigned on lowering energy prices. Democrats are expected to highlight the economic impact of the Iran conflict as the United States approaches the November midterm elections.
