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In a massive escalation in global tensions, Donald Trump has accused Iran of “blackmailing and extorting the world” as he moves forward with a dramatic naval blockade strategy in the Strait of Hormuz.

After high-stakes US-Iran talks collapsed, Trump announced that the U.S. Navy would begin intercepting ships and enforcing a blockade targeting Iranian ports—raising fears of a full-scale naval conflict in the Middle East.

The Strait of Hormuz—through which nearly 20% of global oil supply flows—has now become the epicenter of a dangerous geopolitical showdown. Oil prices are surging, global markets are reacting, and Iran has already warned of retaliation

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00:00We don't use the strait. We don't need the strait. We have our own oil and gas, much more than
00:04we
00:04need. We have more oil and gas than Saudi Arabia. Think of this. Next year we'll have double that
00:09amount. So we don't need it, but the world needs it. Many ships are heading to our country right
00:15now as we speak to load up with the best. Mr. President, as far as the naval blockade is
00:21concerned, what's the end game? Is it to force Iran back to the negotiating table? Is it to
00:26open up the strait so the gas prices ultimately come down? Maybe everything. Both of those
00:31things, certainly, and more. We can't let a country blackmail or extort the world because
00:40that's what they're doing. They're really blackmailing the world. We're not going to let
00:42that happen. And, you know, the amazing thing is we don't, can you believe this? We don't
00:48use the strait. We don't need the strait. We have our own oil and gas, much more than we
00:52need. We have more oil and gas than Saudi Arabia. Think of this. We produce more Saudi
00:58Arabia and add Russia to it, substantially more. And by next year we'll have double that
01:04amount. So we don't need it, but the world needs it. And many ships are heading to our
01:10country right now as we speak to load up with the best, really, I guess you could say, somebody
01:17said the best and sweetest. I don't know exactly what sweet is, but when it relates to oil,
01:21it's a good thing. But they're coming to our country right now. There are many boats coming
01:26to our country. Now, it could very well be this is going to be settled before that.
01:31We've been called this morning by the right people, the appropriate people, and they want
01:36to work a deal. They would like to work a deal.
01:39Mr. President, are another round of talks planned with Durand? And if so, would you send
01:44Vice President Jamie Vance with it?
01:46Well, he's done a good job. Steve and Jared have all done a very good job. And I can tell
01:53you that we've been called by the other side. They'd like to make a deal very badly, very
01:58badly.
01:58What was the sticking point over? You said it was over nuclear.
02:02It was over nuclear. Very similar. Yeah, very good. I guess you're listening. It's over
02:06the fact that they will never have a nuclear weapon. Iran, you mark it down, Iran will not
02:12have a nuclear weapon. And we agreed to a lot of things, but they didn't agree to that.
02:18And I think they will agree to it. I'm almost sure of it. In fact, I am sure of it.
02:23If they
02:23don't agree, there's no deal. There'll never be a deal. Iran will not have a nuclear weapon,
02:27and then we're going to get the dust back. Yeah, I don't want to comment on that, but
02:39it won't be pleasant for them. Let me put it that way.
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