Speaking on Friday, President Donald Trump said the Strait of Hormuz could soon become U.S. territory. Obviously speculating that it would be called "the Strait of Trump" is a little in jest, but we all know how much he loves to slap his name on things.
“Pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States,” Trump said, while urging Americans to accept higher gasoline prices amid the conflict.
Iran rejected the claim, maintaining that the Strait “has been Iranian, is Iranian, and will remain Iranian,”.
The rhetoric comes as Treasury Secretary Scott Bessent said the U.S. is preparing economic measures against Iran “that have never been seen,”.
Bessent has not revealed exactly what those measures will involve, but Reuters reports that the options could target Chinese refiners buying Iranian crude and Chinese banks processing Iranian transactions.
“Pretty soon, I’ll be declaring the Hormuz Strait a territory of the United States,” Trump said, while urging Americans to accept higher gasoline prices amid the conflict.
Iran rejected the claim, maintaining that the Strait “has been Iranian, is Iranian, and will remain Iranian,”.
The rhetoric comes as Treasury Secretary Scott Bessent said the U.S. is preparing economic measures against Iran “that have never been seen,”.
Bessent has not revealed exactly what those measures will involve, but Reuters reports that the options could target Chinese refiners buying Iranian crude and Chinese banks processing Iranian transactions.
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
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Investing in complex securities involves risk. You may lose some or all of your invested capital.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.