Donald Trump has stated that the United States does not rely on the Strait of Hormuz for its energy supply, despite escalating tensions in the Middle East.
Speaking during a cabinet meeting on Thursday, Trump said the US possesses abundant domestic oil resources and is not directly affected by disruptions in the vital shipping route. “We have plenty of oil in our country. This situation is not hurting us,” he noted.
The Strait of Hormuz, a narrow maritime passage connecting the Persian Gulf to global markets, carries nearly one-fifth of the world’s oil supply. Any disruption in the route significantly affects global energy prices, particularly for Asian markets that heavily depend on Gulf oil exports.
Although the US imports relatively little oil through the strait, global price fluctuations have still impacted domestic fuel costs. Over the past month, gasoline prices in the US have reportedly risen by more than one dollar per gallon.
To address rising fuel prices, Trump suggested that individual states consider suspending fuel taxes. However, he indicated that the federal government is not yet ready to halt existing fuel taxes, which currently stand at 18.4 cents per gallon for gasoline and 24.4 cents for diesel. He emphasized that such a move would require approval from Congress.
Meanwhile, Trump’s stance on Iran has drawn criticism from Frank-Walter Steinmeier, who described US actions as a “dangerous mistake” and a violation of international law. In response, Trump compared the situation to the war in Ukraine, stating that it was not originally America’s conflict but one in which it provided support.
Earlier this week, Trump made a cryptic remark about a “gift” from Iran, later clarifying that Tehran had allowed eight oil tankers flying the Pakistan flag to pass through the Strait of Hormuz. He described the move as a positive signal for potential negotiations.
While Iranian officials have denied any ongoing talks, Trump claimed that behind-the-scenes discussions are taking place and suggested that Iran is eager to reach an agreement. He characterized Iran as a tough negotiator, saying, “They may not be great fighters, but they are excellent dealmakers.”
The US president also acknowledged the economic ripple effects of the conflict, particularly on American farmers. Rising fertilizer and cultivation costs linked to the crisis have prompted the administration to consider support measures, similar to the $12 billion aid package provided during the previous trade war.
The situation in the Strait of Hormuz remains a focal point of global concern, with its stability closely tied to energy markets and geopolitical dynamics.
Source: AP
