Trump says US will help with traffic buildup in Strait of Hormuz
A temporary halt in fighting and the reopening of Hormuz allow Middle Eastern exporters to ship significant volumes of oil
[BENGALURU] US President Donald Trump said on Wednesday (Apr 8) the United States will help with the buildup of shipping traffic in the Strait of Hormuz.
Trump on Tuesday agreed to a two-week ceasefire with Iran less than two hours before his deadline for Teheran to reopen the strait or face attacks on its civilian infrastructure.
Trump said that the last-minute deal was subject to Iran’s agreement to pause its blockade of oil and gas supplies through the strait, which typically handles about one-fifth of global oil shipments.
“We will be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well,” Trump said.
“There will be lots of positive action! Big money will be made. Iran can start the reconstruction process,” he also said.
Trump told Agence France-Presse the United States had won a “total and complete victory” after agreeing to a two-week ceasefire deal with Iran.
A temporary halt in fighting and the reopening of Hormuz would allow Middle Eastern exporters to ship significant volumes of oil that have been trapped inside the Gulf since hostilities began.
Around 130 million barrels of crude oil and 46 million barrels of refined fuels are currently floating on roughly 200 tankers in the region, according to data from analytics firm Kpler. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands