Trump says US will hold Strait of Hormuz leverage until Iran agrees to deal

Washington: US President Donald Trump said that the United States will keep control of the Strait of Hormuz until Iran agrees to a deal, using the vital oil route as leverage in the ongoing standoff.

“We have total control of it,” Trump said. “It’ll open when they make a deal or something else happens that’s very positive.”

He made clear the closure is intended to pressure Iran’s economy. “If we open the strait, that means they’re going to make $500 million a day. I don’t want them to make $500 million a day until they settle this thing,” he said.

The Strait of Hormuz is a narrow shipping lane linking Gulf oil producers to global markets. Disruptions there often drive price swings and raise concerns over supply.

Trump acknowledged the impact could be felt by consumers. Asked about fuel costs, he said: “For a little while.”

Still, he said markets have held steady. “The stock market is at an all-time high… I thought oil would go up to maybe $200 a barrel. And oil is at a very different number than anyone thought,” he said.

The administration pointed to domestic production as a buffer. “We’re putting out right now more oil and gas than we ever have in the history of our country,” Trump said.

“Ships are coming from all over the world to Texas, Louisiana and Alaska… to get oil from the United States while this is closed,” he added.

Trump linked the pressure campaign to broader security goals. “You can’t let them have a nuclear weapon,” he said.

He also signalled there is no fixed timeline for a resolution. “I don’t want to rush it… we have plenty of time,” he said, suggesting Iran faces increasing strain from restricted oil flows.

IANS