Trump says the Strait of Hormuz may soon lose its importance

Donald Trump says the Strait of Hormuz may no longer hold the same importance as new routes emerge for moving oil around the Middle East. He pointed to pipelines under construction across the region and to an overland route through Syria, where trucks were reportedly already carrying crude oil.

“The Strait of Hormuz is not what it used to be,” Trump said, according to U.S. media. He warned Iran that the development of alternative routes could reduce its influence over one of the world’s most important energy corridors.

His comments came as Washington increased pressure on Tehran. The U.S. Treasury imposed new sanctions on Turkey-based Golden Global Bank, with the State Department saying the measure aimed to further isolate Iran from the international financial system and restrict funding for its regional activities.

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The Strait of Hormuz is not what it used to be.

A source from Iran’s leadership, cited by Reuters, said the country had roughly two months of gasoline reserves. U.S. restrictions on Iranian ports were reported to have limited oil exports, Iran’s main source of revenue, while limited refining capacity forces the country to import gasoline. Reuters cited three Iranian sources who said the measures had left Iran with fewer options for obtaining foreign currency and importing goods.

Egyptian Foreign Minister Badr Abdelaty urged the United States and Iran to return to talks. Egypt said diplomatic efforts should take priority, shipping through the Strait of Hormuz should remain safe, and disruption to trade and energy supplies should be avoided. Trump separately described the confrontation as a “military conflict,” not necessarily a war, and said U.S. forces had destroyed Iranian radar and other systems used to monitor the strait. Israel’s military also said it had struck Hezbollah targets in southern Lebanon after a drone was launched at Israeli troops near the border, reporting no injuries among its soldiers.

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military conflict