The entire situation with Iran's attempts to close the Strait of Hormuz continued on Thursday. Iran has actually been partially successful, in that traffic through the Strait is down, and global oil prices have been very volatile over the last few days - as have the prices of everything made of or with oil.
Also on Thursday, the American Secretary of the Treasury, Scott Bessent, described steps being taken to get traffic moving through the Strait again.
Treasury Secretary Scott Bessent said Thursday that an “international coalition” could escort tankers through the Strait of Hormuz.
“Are you starting to think, if this does keep persisting as it is, that the Navy has to go into the Strait of Hormuz to — to help ships get through, which would have a big effect on —” Sky News’s Wilfred Frost asked Scott Bessent in an interview.
“Look, that was always in our planning, that there’s the chance that U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent replied. “There are, in fact, tankers coming through now, Iranian tankers, I believe some Chinese-flagged tankers have come through, so, we know that they have not mined the straits.”
That last is indeed an interesting indicator. China buys about 80 percent of Iran's exported oil; the two nations have been doing business for some time, and it seems unlikely that Iran would mine or otherwise obstruct the Strait of Hormuz without informing China, and at the very least, inform them where clear lanes are set up through any obstructions.
Shipping traffic in the Strait of Hormuz has been held up for close to two weeks amid the U.S.-Israeli conflict with Iran. President Trump said Wednesday that the strait was in “great shape,” but Iran’s new supreme leader, Mojtaba Khamenei, on Thursday asserted that the waterway would remain closed.
Three ships in the Strait of Hormuz were hit by unknown projectiles on Wednesday, per the United Kingdom Maritime Trade Operations. The agency also said that one of the strikes resulted in a fire on board one of the ships.
It's unclear whether the fire referred to was the fire aboard the USS Gerald R. Ford, which was determined to have been caused by an accident.
It seems certain that, if the United States wants the Strait of Hormuz open, then one way or another, it will be opened.
Read More: US Launches Air Campaign to Stop Iranian Plan to Close Strait of Hormuz
Chilling Footage: Iran Stocks Enormous Supply of Kamikaze Naval Drones
One more interesting note: There are reports that President Trump may ask for naval support from nations not directly involved in the conflict.
The Group of Seven (G7) said in its own statement that “G7 Leaders agreed to establish coordination to prepare for the restoration of freedom of navigation in the region.”
“In this regard, work has been launched to explore the possibility of escorting vessels when security conditions allow,” the statement continued.
The G7 nations include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. All of these nations are dependent to one degree or another on oil that has transited the Strait of Hormuz. All of these nations have an interest in keeping those tankers moving. And all of them have at least some ships that could lend support.
Stay tuned. This remains a developing situation.
Editor's Note: For decades, former presidents have been all talk and no action. Now, Donald Trump is eliminating the threat from Iran once and for all.
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