Middle East Crisis Strait of Hormuz

Donald Trump: No One Will Control Hormuz

The Strait of Hormuz will continue to be controlled by Iran and Oman, according to the framework of an agreement that Iranian media reported on Wednesday. The White House does not seem interested in such an arrangement, according to Bloomberg.

– No one will control it. It is international waters. The Strait will be open to everyone, says Donald Trump, adding that the United States will keep an eye on it.

The president also dismissed the idea that economic relief would be on the table.

– We are not talking about any relief in the sanctions, no money, nothing at all.

Major banks warn: Hormuz will remain closed for months

Oil prices rose on Tuesday after new American attacks on Iranian targets again reinforced uncertainty about when the important Strait of Hormuz can be opened.

American investment bank Piper Sandler does not give much credit for the recent optimism, but according to CNBC, traffic through the strait will continue to be limited.

“We assess that the Strait of Hormuz will remain largely closed for several months to come, which means that the shortage will become increasingly acute and that the oil price will reach new peak levels this summer,” they write.