The Iranian regime has skilfully leveraged the Strait of Hormuz to its advantage,but it isn’t the only strategic waterway at its disposal to blunt the US.
If the US president’s war enabled Iran to weaponise the strait in the first place,the preposterous 20 per cent toll proposal only gives them more ammunition.
The US president’s proposed extortionate 20 per cent toll destroys what little credibility he had left.
Donald Trump’s plan to charge ships to use the strait would be a marked departure from the US’ previous insistence that passage through the crucial waterway should be free and open for all.
The US president had first hoped to bomb Iran into submission and then bribe them by letting them sell their oil,but neither approach has delivered a result.
Many predicted the paper-thin memorandum of understanding signed last month would amount to little. It has taken even less time to collapse than they thought.
The US president says the US is ready to strike Iran's civilian infrastructure and suggested again it could seize the country's main oil export hub,Kharg Island.
Donald Trump fuelled concerns the war in Iran could reignite by saying the interim agreement to pause fighting was “over”,later adding:“We’ll probably hit them hard again tonight.”
Fuel prices are about 40 per cent lower than they were at the height of the Iran conflict. They may not stay at these subdued levels for long.
Initial optimism that Trump would be a good friend to the Gulf States has faded significantly,with many in the region unhappy with how the war against Iran has played out.