Summary
- President Trump said he is in talks with about seven countries to ensure the safety of the Strait of Hormuz.
- He noted that the Strait of Hormuz is a critical energy corridor through which about 20% of the world’s seaborne crude oil shipments pass.
- President Trump said countries with high dependence on Middle Eastern crude should take a more active role in protecting the strait.
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The United States is reportedly holding consultations with allies to bolster security in the Strait of Hormuz, where tensions have escalated due to the war with Iran.
Insider Paper, an overseas breaking business news channel, said on the 16th via X (formerly Twitter), citing a Reuters report, that "President Trump is in talks with about seven countries to ensure the safety of the Strait of Hormuz."
According to the outlet, as military clashes with Iran continue in the Middle East, President Trump has asked multiple countries to cooperate to secure the safety of the Strait of Hormuz, a major global oil shipping route.
The Strait of Hormuz is a critical energy corridor through which about 20% of the world’s seaborne crude oil shipments pass, and with Iran’s recent military actions threatening vessel traffic, it is emerging as a key risk factor for international energy markets.
President Trump was also reported to have said that countries heavily dependent on Middle Eastern crude should take a more active role in protecting the strait. However, specific participation plans—such as whether to deploy naval vessels—have not yet been finalized, according to reports.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
