look news india
Amidst the ongoing tension in the Middle East and Gulf countries, US President Donald Trump has made a big and aggressive announcement that shocked the world. During a phone interview on Fox News’ popular program, Trump made it clear that America will establish strategic control over the Strait of Hormuz, considered most important for oil supply globally. In lieu of taking up the responsibility of security arrangements and keeping the sea routes safe, a tax at the rate of 20 percent will be collected on all commercial cargo ships passing through there.
Trump’s blunt warning on social media
President Donald Trump posted on his social media platform Truth Social that the Strait of Hormuz is completely open and will remain open whether Iran agrees or not. He said the US is imposing its own security blockade by breaking the Iranian blockade in the region. According to Trump, 20 percent reimbursement will be taken from cargo passing through to cover the cost of securing transit in the Gulf region, as other wealthy countries must also pay the full cost of US military services.
The conflict between America and Iran reached its peak
This sharp statement has come at a time when for the last few days, there have been continuous missile and drone attacks in the Gulf region between America and Iran. Iran had claimed that the Strait of Hormuz has been closed and no ship can pass without permission, in response to which Trump has warned of breaking previous agreements and tough military strikes on Iran. The Islamic Revolutionary Guards have also warned that continued US interference in this sea route could lead to greater geopolitical crises in the global energy market.
Threat looming on global oil market and inflation
The Strait of Hormuz handles about 20 percent of total oil transportation worldwide, making it the backbone of the international economy. Due to the direct conflict between America and Iran on this waterway, the fears of a huge jump in global crude oil prices and increase in inflation have become very deep, due to which new concerns have started in the markets around the world.