President Donald Trump has given Tehran an ultimatum – Iran has until Monday to reopen the sea route, key to global oil trade.
Bessent indicated that the attacks were carried out by American and Israeli forces aim to destroy Iranian fortifications along the strategic strait.
Bessent, in an interview on NBC's “Meet the Press,” emphasized that Trump is determined to achieve the goals of American policy towards Iran. The priorities include destroying Iran's air and naval forces, preventing Tehran from possessing nuclear weapons, and limiting its ability to conduct international operations. — The President will take all necessary steps to achieve these goals Bessent said.
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“Escalation for de-escalation”
Bessent confirmed that the military operations in the region that have been ongoing for several weeks are aimed at weakening Iran's position in the strait, which is one of the most important oil transit points in the world. “The military campaign to destroy Iran's fortifications will continue until they are completely dismantled,” he said. He also added that sometimes escalation of actions is necessary to achieve de-escalation of the conflict.
Bloomberg reminds that rising oil and gasoline prices are starting to put pressure on the Trump administration. According to the American Automobile Association, the average price of a gallon of gasoline in the US increased by 34%. over the last month. The crisis on the fuel market is also felt by the aviation sector. Scott Kirby, CEO of United Airlines, recently warned that oil prices could reach $175. per barrel, which will significantly increase the cost of aviation fuel.
“Prices will fall, the threat will disappear”
Despite short-term economic challenges, Trump and his advisers believe that higher oil prices are an acceptable cost in the face of the long-term benefits of eliminating the Iranian threat. “Imagine 50 days of temporarily higher prices that would bring 50 years without an Iranian nuclear regime,” Bessent argued in an interview with NBC. He admitted, however, that he is unable to precisely determine how long the current increase in fuel prices will last. — I don't know if it will be 50 days or 100 days, he added.
Observers are watching with concern the events in the Gulf of Hormuz area, which has remained a flashpoint on the geopolitical map of the world for years. In the face of escalating military operations and rising economic costs, the question of the further development of the situation remains open.
