Trump said Xi Jinping was "delighted" by the situation in the Strait of Hormuz
U.S. President Donald Trump stated that Chinese leader Xi Jinping is allegedly “very pleased” with the situation surrounding the Strait of Hormuz, which he described as “open or rapidly opening.”
Trump wrote about this on his social media platform Truth Social, Reuters reports.
“President Xi is very pleased that the Strait of Hormuz is open and/or rapidly opening,” Trump noted.
He also expressed confidence in an upcoming meeting with the Chinese leader, calling it potentially landmark.
“Our meeting in China will be special and, perhaps, historic. I look forward to meeting with President Xi—much will be accomplished,” the U.S. president stated.
Prior to this, Iran announced new rules for ships passing through the Strait of Hormuz, which is one of the world’s key oil supply routes. Commercial vessels will now be able to navigate only with permission from the Islamic Revolutionary Guard Corps Navy.
The U.S. is calling on G20 countries, as well as the IMF and the World Bank, to intervene urgently to avoid a fertilizer shortage. Due to the war in the Middle East, supplies have been disrupted precisely during the key planting season.
Global oil prices also fell by about 5% following news of a possible agreement between the U.S. and Iran. Investors reacted to Donald Trump’s statement that a deal is imminent and began pricing in a reduction in market tensions.
Airlines are warning that flight cancellations could begin in Europe as early as late May due to a shortage of jet fuel. The industry is asking governments to prepare a clear action plan in advance in case supplies need to be restricted.
Also, the Pakistani tanker Shalamar became the first vessel to pass through the Strait of Hormuz carrying crude oil since the U.S. blockade began on April 13.
Iran announced the opening of the Strait of Hormuz to commercial shipping for the duration of the ceasefire in Lebanon.
Iran estimates the damage from US and Israeli bombings at $270 billion and is demanding compensation from five Arab countries
Iran promises to respond to the blockade of its ports by closing the Red Sea.
