Trump Suggests Allies Should Secure Their Own Oil Amid Iran Conflict
Synopsis
Key Takeaways
New York, March 31 (NationPress) As the campaign led by Israel and the United States against Iran diverged from its intended goals and began to impact global economies, President Donald Trump conveyed to his allies on Tuesday, “The hard part is done. Go get your own oil,” suggesting he might be considering a reduction in hostilities without a clear opening of the Hormuz Strait.
Trump’s suggestion came in light of a Wall Street Journal article on Monday, which indicated he had communicated to his staff a willingness to set aside demands regarding the Strait's status, opting instead to focus on undermining Iran’s missile capabilities and naval forces.
The publication did not disclose its sources, and the White House refrained from commenting on the matter.
In his communication, Trump urged allies, “You’ll have to start learning how to fight for yourself, the USA won’t be there to help you anymore.”
He continued, “Build up some delayed courage, go to the Strait, and just TAKE IT.”
This statement coincided with Brent crude oil prices climbing to $116 a barrel on Tuesday, which seemed to alleviate some pressure on struggling stock markets, resulting in a 422-point increase in the Dow Jones Index, or nearly 1 percent, by midday.
However, the ambiguity surrounding Trump's comments and the report about his intentions created uncertainty. If Iran controlled the Strait, there was no assurance that oil would flow freely through this critical passage, which handles about 20 percent of the world’s oil and gas supplies.
If attacks on Iran’s missile installations and navy persisted, Iran’s retaliatory actions could continue to disrupt Gulf oil production and transport. On Tuesday, Iran escalated tensions by setting fire to a Kuwaiti oil tanker.
Trump asserted that one of his primary goals, regime change, had been accomplished, and that a “new, and more reasonable, regime” was now in power.
He noted that there had been “great progress” in “serious talks” with Iran, citing their cooperation in allowing 20 oil-laden ships to pass through the Strait.
Iran refuted claims of ongoing negotiations but acknowledged that messages had been relayed between the U.S. and Iran through intermediaries.
As the conflict with Iran extends into its second month, far longer than Trump had anticipated, he has reversed several policies in response to domestic pressures ahead of the mid-term elections in November.
Gas prices have surged to approximately $4 per gallon (3.8 liters), up from about $3 per gallon when the conflict began in late February.
Most notably, his decision to ease certain sanctions on Iran regarding oil sales, even while engaged in conflict, raised eyebrows.
“I just want to have as much oil in the system as possible, and we don’t even know if Iran gets that money,” he justified.
Previously, he permitted India to purchase Russian oil after imposing a 25 percent tariff on New Delhi for sourcing energy from Moscow.
This week, he also authorized Russia to supply oil to Cuba, which is currently facing a humanitarian crisis due to energy shortages.
He had earlier claimed that the virtual embargo would help achieve his objective of regime change in Havana.