Trump Says U.S. Can Take Strait of Hormuz with More Time
President Trump said the U.S. could reopen the Strait of Hormuz with more time, as global markets react to disruptions in a key oil and LNG shipping route.
(Reuters) — President Donald Trump on April 3 said the U.S. can open the Strait of Hormuz with a little more time, as pressure mounts for his administration to find a quick resolution to a war against Iran.
"With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL,& MAKE A FORTUNE," Trump said in a post on Truth Social.
Nearly five weeks after it started with a joint U.S.-Israeli aerial assault, the war in Iran continues to spread chaos across the region and roil financial markets, raising the pressure on Trump to find a quick resolution to the conflict.
Iran has effectively shut down the Strait of Hormuz , a key waterway that carries about a fifth of the world's total oil consumption, in retaliation for U.S.-Israeli strikes that began in late February. Reopening it has become a priority for governments around the world as energy prices soar.
In the speech on April 1, Trump repeated his threats against Iran's civilian power plants and gave no clear timeline for ending hostilities, drawing vows of retaliation from Iran and depressing share prices.