: Wednesday, 06 May 2026 08:41 AM
Washington. Rising tensions in the Strait of Hormuz and fears of a prolonged blockage in one of the world’s busiest energy corridors are weighing on global oil markets. Meanwhile, US Secretary of State Marco Rubio has warned that Iran’s decisions could lead to large-scale economic instability. US Secretary of State Marco Rubio said during a press conference at the White House that Iran’s efforts to control the movement of ships through the Strait of Hormuz threaten fuel supplies, global trade and international sea lanes used by the world’s major economies. “This accounts for nearly a quarter of the world’s oil trade. The Iranian regime cannot be allowed to dictate who will use this vital waterway,” Rubio said.
The comments came as the Trump administration launched ‘Project Freedom’, a military operation. Its objective is to safely evacuate commercial ships from the narrow sea corridor connecting the Persian Gulf to global markets.
Rubio said commercial ships carrying fuel, fertilizer and humanitarian aid have been stranded for weeks due to Iranian attacks and mines laid in international waters. Rubio acknowledged that as global oil markets react to the crisis, concerns are growing about fuel prices within the US.
The US Secretary of State said that the US economy is in a more secure position than many other economies due to domestic energy production, but he also acknowledged that the American people are still feeling the impact.
Marco Rubio said, “Obviously, we may still be affected to some extent by global price fluctuations. This is not good news for Americans who have to pay more at the gas pump.”
He argued that this situation proves why Washington considers Iran’s nuclear ambitions a direct threat to global economic stability. “If Iran had nuclear weapons and they decided to close the strait, causing our gas prices to go up to $9 or $8 a gallon, we wouldn’t be able to do anything about it,” Rubio said.
Rubio again accused Iran of trying to establish permanent control over an international sea route. “We cannot live in a world where some country decides that we now own an international shipping lane and if you want to use it, you have to pay us,” he said.
The Foreign Minister also warned that not responding to Iran’s actions could encourage similar behavior elsewhere. Rubio claims that these economic measures and the maritime blockade are causing huge losses to Iran. “Iran is losing up to $500 million in revenue every day because of this blockade alone,” he said.
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Web Title-Strait of Hormuz Tensions: US Secretary of State Warns—Iran Actions Threaten Global Economy
