President Donald Trump has suggested a potential joint control of the strategically crucial Strait of Hormuz.
Trump, while addressing the press in Florida on Monday, indicated that the strait could reopen soon if talks with Iran are fruitful. However, he remained ambiguous about the potential partners in control, hinting it could be “maybe me and the Ayatollah.”
“Whoever the Ayatollah is,” added Trump.
Trump also mentioned that recent strikes in the conflict had targeted much of Iran’s senior leadership, hinting at a possible regime change. “Very serious form of regime change,” he stated, adding that the weekend discussions showed promise for easing tensions.
Speaking about the negotiators, Trump said, “We’re dealing with some people that I find to be very reasonable, very solid. The people within know who they are, they’re very respected, and maybe one of them will be exactly what we’re looking for.”
As for the new Ayatollah, Mojtaba Khamenei, Trump had previously called him a ‘lightweight.’ The president had also indicated that he is alive in “some form” but “damaged” after the early strikes in February.
Hormuz Impact On Fuel, Fertilizers
This development comes on the heels of a five-day pause on U.S. strikes against Iranian energy infrastructure. The pause, announced by Trump on Monday, was a result of “very good and productive talks” with Iran.
Trump’s move immediately led to more than 8% drop in oil prices, signaling the biggest de-escalation since Operation Epic Fury began on February 28. At 2:59 am ET on Tuesday, Brent crude oil is trading 2.85% higher at $98.65.
The Strait of Hormuz, a vital waterway carrying about 20% of global oil supplies, has been a point of contention in the conflict. Its closure has led to skyrocketing fuel and fertilizer prices, posing a significant threat to the U.S. agriculture sector.
In a March 19 letter, U.S. farmers said a January winter storm, rising inflation, trade uncertainty, and falling crop prices had already strained them. They added that the closure of Hormuz drove up fuel and fertilizer costs just as planting season began, worsening the pressure on the farm economy.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
Image via Shutterstock
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