American President Donald Trump has hinted that the ongoing conflict between the US and Iran could soon come to an end. Speaking to journalists at the White House, Trump stated that talks between the two countries are moving in a positive direction, and he believes the conflict will not last much longer.
Trump claimed that Iran itself initiated the talks, and he believes this agreement would be the best option for Iran. He also warned that the US has no shortage of weapons and is continuously manufacturing new ones as needed.
Agreement on Hormuz Strait
According to news agency AP, there is a possibility of an agreement between the US and Iran on the Hormuz Strait soon. A draft agreement mediated by Oman is reportedly in its final stages. However, a bill has been proposed in the Iranian parliament to ban American, Israeli, and other enemy ships from entering the Hormuz Strait, with a 20% tariff on goods for rule-breakers.
Robert Pape, a professor at the University of Chicago, says Trump is currently in a situation where he has only two options: either accept Iran’s growing influence or escalate the war. Pape stated, ‘Although America has achieved some military success through air and naval attacks, it has not achieved its main goal. Iran has emerged stronger after the war.’
The tension has had a direct impact on the global market. The number of ships passing through the Hormuz Strait and the Bab al-Mandeb has decreased significantly. Before the tension, 130-140 ships used to pass through the Hormuz Strait daily, but on Wednesday, only two ships were seen. As a result, the price of crude oil has increased in the international market, with Brent crude reaching $82.49 per barrel and American WTI reaching $77.29.
Eight major shipping organizations worldwide have appealed not to impose any tolls or service charges on ships passing through the Hormuz Strait, as this could lead to a global price increase.
Replies
No replies yet. Log in to be the first to reply!