U.S. President Donald Trump threatens to send troops to the Strait of Hormuz to unblock it.
The Strait of Hormuz, a critically important maritime corridor, is under blockade by Iran. As a result, over a hundred tankers carrying oil and liquefied gas have become stranded in the Persian Gulf, affecting global financial markets and causing fluctuations. Trump is actively responding to this situation.
On Truth Social on March 3, he wrote:
“The U.S. Navy will be ready as soon as possible to escort tankers through the Strait of Hormuz if needed. We will ensure the FREE FLOW OF ENERGY in the WORLD under any circumstances.”
Thus, he is prepared to use military force to stabilize oil prices. Trade expert Gerrit Heineman (Hochschule Niederrhein) warns that ignoring the situation will lead to a sharp increase in inflation: “With each passing day of the Hormuz blockade, the likelihood of double-digit inflation increases.” The rise in gasoline prices will inevitably affect the cost of many goods.
The Strait of Hormuz, a narrow maritime corridor only about 33 km wide between Iran and Oman, accounts for about 20% of global oil supplies and significant volumes of liquefied natural gas. The lack of alternative routes makes its blockade critically important for international oil prices.
The U.S. Secretary of the Treasury accused the Spanish authorities of endangering the lives of Americans.
Scott Bessent stated in an interview with CNBC that any actions that hinder the prompt conduct of military operations against Iran jeopardize the safety of American citizens.
“President Trump’s irritation with the Spanish authorities is justified. Spain is the only NATO member that is not fulfilling its obligations, making it a ‘free rider.’ Any slowdown in our ability to act quickly and effectively puts American lives at risk,” Bessent noted.
The U.S. Secretary of Defense reported the sinking of an Iranian warship in the Indian Ocean.
According to him, American forces are responsible for the destruction of an Iranian submarine, which was sunk in the territorial waters of Sri Lanka. More than 100 people are missing as a result of the incident.
He added that the U.S. and Israel are just beginning their military operations against Iran, and new escalations of the conflict are expected.
The U.S. plans to use unlimited stocks of precision-guided gravity bombs, which will increase the intensity of air operations.
“We are targeting the Iranian missile system to prevent threats to American interests in the region,” the Secretary stated.
The Turkish Foreign Minister Hakan Fidan expressed protest to Iran over the launch of a ballistic missile into Turkish airspace.
During a conversation with his Iranian counterpart Araqchi, Fidan warned about the need to avoid actions that could exacerbate the conflict.
Earlier, the Turkish Ministry of Defense reported that a missile launched from Iran was intercepted by NATO defense systems and fell on Turkish territory without casualties.
What is the situation with some regional airlines?
- Air Arabia is suspending its flights to the UAE until March 9.
- SriLankan Airlines announces the resumption of flights to Dubai.
- Gulf Air temporarily halts flights at least until March 5.
- Qatar Airways reports that its flights are suspended, with further information available on March 6.
After the destruction of Iranian air defense systems, according to the Chairman of the Joint Chiefs of Staff General Dan Cain, the U.S. will be able to conserve precision munitions and use guided gravity bombs instead, which will expedite the air operation.
“We are striking the Iranian missile system to neutralize threats to American interests,” Cain noted.
“Additionally, we are working to destroy the Iranian navy, reducing its capabilities,” he added.
“We will also do everything possible to ensure that Iran cannot quickly restore its combat capabilities,” Cain concluded.
The next phase, according to him, will be “deepening operations on Iranian territory” to create greater maneuvering space for U.S. troops.
During his 10-minute televised address, he reiterated his disagreement with the war and “violation of international law,” recalling the conflict in Iraq over 20 years ago.
Trump threatens to impose a trade embargo on Spain in response to the Spanish authorities' refusal to grant the U.S. access to jointly managed bases for operations against Iran.
“Things are terrible in Spain,” Trump stated during a meeting with German Chancellor Friedrich Merz.
In his address from the residence in La Moncloa, Sánchez reported that the government is exploring measures to mitigate the economic consequences of the conflict.
“The question is not whose side we are on. We stand for peace and international legality,” he added.
Sánchez, who sharply criticizes Israel's military response to Hamas's actions in 2023, emphasized that his government's position aligns with its stance on Ukraine and Gaza.
Spain has been one of the most outspoken governments in Europe regarding the situation in Gaza, calling Israel's actions “genocide,” and recognized the Palestinian state earlier than many other EU countries.
Recalling the invasion of Iraq, Sánchez warned that an attack on Iran could have severe economic consequences for millions of people.
His words about the war in Iraq would resonate with many Spanish voters, as the support for the conservative People's Party government at that time sparked massive anti-war protests.
Sánchez mentioned the “Azores trio” — George W. Bush, Tony Blair, and José María Aznar, who met at a Spanish base before the invasion of Iraq.
He noted that this led to “a more unstable world and a deterioration in people's lives.”
His position sharply contrasts with Merz's opinion, who stated that regime change in Iran could “slightly improve the situation in the world,” while also warning of possible risks.
The Islamic Revolutionary Guard Corps (IRGC) reported the start of the seventeenth wave of Operation “Truthful Promise-4,” conducted a few hours ago.
During this operation, more than 40 missiles were launched at targets in the U.S. and Israel.
Russia is ready to redirect oil supplies to India to compensate for shortages from the Middle East, Reuters reports.
About 9.5 million barrels of Russian oil are on tankers near Indian waters and can be delivered in the coming weeks, which will help address issues with refineries.
India is facing a threat of shortages as oil reserves last only 25 days, and refineries have limited gasoline and gasoil stocks. A source in the Indian government reported that alternative supplies are being sought in case the conflict in the region drags on for more than 10-15 days.
About 40% of the oil imported by India passes through the Strait of Hormuz. The blockade of this route has forced the world's third-largest oil consumer to seek alternatives.
According to the source, Russia is ready to cover up to 40% of India’s crude oil needs. Indian refiners are in constant contact with traders selling Russian oil, but the increase in supplies will depend on government directives as trade negotiations with the U.S. continue.
The source also reported that Russia is ready to supply India with liquefied natural gas after Qatar suspended production.
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