Market Flux Event
Trump Claims 100% US Control of Strait of Hormuz as Blockade Tightens and Iran Talks Stall
President Trump declared on August 12 that the United States has total, 100% control of the Strait of Hormuz, calling the ongoing U.S. naval blockade a "wall of steel" and adding that Washington may keep control of the strategic waterway indefinitely. Speaking from the Oval Office, Trump said, "The only one that has control of the Strait of Hormuz right now is the United States Navy," while acknowledging Iran could still cause disruption. Talks to reopen the strait remained active, with a senior Pakistani minister describing the two sides as close to "some sort of arrangement," though Iran's Supreme National Security Council issued new conditions, stating the waterway will not reopen until the U.S.
"corrects its behavior." Iran also demanded war reparations, to which Trump responded by announcing that he is likewise demanding compensation from Iran. On the ground, U.S. Central Command reported redirecting 55 commercial vessels as of that Sunday, up from 35 as of August 2, with two ships disabled and two boarded for compliance checks.
Oil markets remained elevated on the impasse, with analysts warning the situation could turn less benign if no deal is reached in the coming days. The strait carries roughly 20% of the world's oil supply.
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Sources
- DeItaoneTRUMP: U.S. HAS “TOTAL CONTROL” OF HORMUZ President Trump claims the U.S. has “total control” of the Strait of Hormuz and suggested Washington could keep control of the strategic waterway. He described the U.S. naval blockade as a “wall of steel.” Trump also claimed Iran’s
- MarketRebelsTRUMP: US HAS TOTAL CONTROL OVER OVER THE STRAIT OF HORMUZ
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- CointelegraphLATEST: Trump says the U.S. has “total control” over the Strait of Hormuz, calling its naval blockade a “wall of steel,” according to Reuters.
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