President Donald Trump is calling on other countries to help protect the Strait of Hormuz, a vital trading route for a fifth of the world’s oil supply, as oil prices continue to rise in the United States.”We are talking to other countries about working with us on the policing of the Strait and I think we’re getting a good response,” Trump said. “If we do, that’s great and if we don’t, that’s great too.”Trump told reporters he has spoken with “about seven countries” regarding patrolling the Strait but did not specify which nations are open to helping. In a social media post on Saturday, Trump suggested China, France, Japan, South Korea, and the United Kingdom should contribute military help. On Sunday, Trump clarified he specifically asked China. China’s Embassy in Washington, D.C. released a noncommittal statement about the president’s proposal, reading in part, “As a sincere friend and strategic partner of Middle Eastern countries, China will continue to strengthen communication with relevant parties, including parties to the conflict, and play a constructive role for de-escalation and restoration of peace.”The European Union is weighing two types of naval missions including expanding an existing mission to promote free and safe travel through the Middle East. EU Foreign Policy Chief Kaja Kallas discussed expanding the scope of an ongoing security mission in the region or assembling a “coalition of the willing” to dispatch as a security force. On Monday, Japanese Prime Minister Sanae Takaichi said her government “has not heard anything” about protecting the Strait of Hormuz. A spokesperson said, “We have great interest and we are collecting information. In terms of dispatchment of SDF , nothing’s been decided.”Australia says they will not participate. Transport Minister Catherine King said in an interview, “We know how incredibly important that is, but that’s not something that we’ve been asked or that we’re contributing to.”Although the U.S. receives only a small fraction of its oil from the Persian Gulf, disruptions in the global oil market can lead to increased prices domestically. This effect is playing out at gas stations, where AAA reports regular gas prices have risen to $3.72, marking a 24% increase since the onset of the war 17 days ago.Energy Secretary Chris Wright said that gas prices are expected to decrease once the war in Iran ends. “There’s a lot of energy that flows through the Strait of Hormuz, and depending upon the timing and the manner in which this conflict comes to an end, we’re going to see some elevated pricing until we get there,” Wright said.Economists predict that the ongoing conflict could pressure airlines to raise ticket prices, retail prices could rise, and ride-sharing services like Uber and Lyft might add a temporary fuel fee to help drivers. The American Farm Bureau Federation says the war is creating supply chain shocks that could threaten food security and raise prices.Keep watching for the latest from the Washington News Bureau:
President Donald Trump is calling on other countries to help protect the Strait of Hormuz, a vital trading route for a fifth of the world’s oil supply, as oil prices continue to rise in the United States.
“We are talking to other countries about working with us on the policing of the Strait and I think we’re getting a good response,” Trump said. “If we do, that’s great and if we don’t, that’s great too.”
Trump told reporters he has spoken with “about seven countries” regarding patrolling the Strait but did not specify which nations are open to helping.
In a social media post on Saturday, Trump suggested China, France, Japan, South Korea, and the United Kingdom should contribute military help.
On Sunday, Trump clarified he specifically asked China. China’s Embassy in Washington, D.C. released a noncommittal statement about the president’s proposal, reading in part, “As a sincere friend and strategic partner of Middle Eastern countries, China will continue to strengthen communication with relevant parties, including parties to the conflict, and play a constructive role for de-escalation and restoration of peace.”
The European Union is weighing two types of naval missions including expanding an existing mission to promote free and safe travel through the Middle East. EU Foreign Policy Chief Kaja Kallas discussed expanding the scope of an ongoing security mission in the region or assembling a “coalition of the willing” to dispatch as a security force.
On Monday, Japanese Prime Minister Sanae Takaichi said her government “has not heard anything” about protecting the Strait of Hormuz. A spokesperson said, “We have great interest and we are collecting information. In terms of dispatchment of SDF [Self-Defense Forces], nothing’s been decided.”
Australia says they will not participate. Transport Minister Catherine King said in an interview, “We know how incredibly important that is, but that’s not something that we’ve been asked or that we’re contributing to.”
Although the U.S. receives only a small fraction of its oil from the Persian Gulf, disruptions in the global oil market can lead to increased prices domestically. This effect is playing out at gas stations, where AAA reports regular gas prices have risen to $3.72, marking a 24% increase since the onset of the war 17 days ago.
Energy Secretary Chris Wright said that gas prices are expected to decrease once the war in Iran ends.
“There’s a lot of energy that flows through the Strait of Hormuz, and depending upon the timing and the manner in which this conflict comes to an end, we’re going to see some elevated pricing until we get there,” Wright said.
Economists predict that the ongoing conflict could pressure airlines to raise ticket prices, retail prices could rise, and ride-sharing services like Uber and Lyft might add a temporary fuel fee to help drivers. The American Farm Bureau Federation says the war is creating supply chain shocks that could threaten food security and raise prices.
Keep watching for the latest from the Washington News Bureau: