look news india
Amidst the turbulent environment of global politics and the Middle East, US President Donald Trump has given a very aggressive and big statement regarding Iran. Trump has clearly put a condition before Iran, which has created a stir in the corridors of international diplomacy. Trump says that before any negotiation or agreement between America and Iran, Tehran will have to make an open and official announcement to always keep the world’s most important oil route i.e. ‘Strait of Hormuz’ open to international ships. According to Trump, without this step nothing from Iran can be trusted even an iota.
After all, why is the Strait of Hormuz so special for the whole world?
Strategically and economically, the Strait of Hormuz is considered the ‘economic lifeline’ of the world. More than one-third of the total global oil trade passes through this narrow sea route. Iran has often threatened to close the waterway or seize merchant ships if tensions with the US and Western countries increase. Trump knows very well that if there is even the slightest obstruction in this path, then the prices of crude oil will start skyrocketing all over the world, which will have a direct impact on the American economy and global markets. This is why he has made this his first and biggest condition.
Return of Trump’s ‘Maximum Pressure’ policy and siege of Iran
Experts on global diplomacy say: “This statement of Donald Trump is part of his old ‘Maximum Pressure’ strategy. He wants to put so much pressure on Iran economically and strategically that it will be forced to come to the negotiating table. By placing the condition of opening Hormuz, Trump has not only protected American interests, but has also played a gamble in bringing other big oil importing countries of the world into his fold.
The Trump administration believes that there should be no relaxation of sanctions until Iran stops its aggressive policies and support for regional proxy groups.
What will be its impact on local and global markets including India?
Big oil importing countries like India are also keeping a close eye on this entire incident. India imports a large part of its energy needs from the Middle East, and all these ships reach India’s local ports via the Strait of Hormuz. If Iran bows down to this pressure from Trump and declares the Hormuz waterway safe, then it will ensure the security of India’s oil imports and the prices of petrol and diesel will remain stable in the domestic market. At present, the eyes of the whole world are fixed on what reaction comes from the supreme leader and government of Iran to this direct challenge and strict condition of Trump.