00:01Your Royal Highness, Excellencies, please make yourselves comfortable, relax, and share your warmest smiles in 3, 2, and 1.
00:27Excellent. Thank you, Your Royal Highness, and Excellencies.
00:41Once again, the United States is always committed to diplomacy.
00:45We are open-minded and always willing to engage in negotiated settlements of differences, and that remains true in the
00:51case of Iran.
00:52Unfortunately, so far, even though we have reached agreements, they have not kept their commitments.
00:57And as the President stated earlier today, I guess, today, Washington time, yesterday, our time here now,
01:04the problem we're having right now is that they're not serious about talks.
01:07If they're serious, we're serious. If they're not, then we will do what is necessary to protect that, our interests,
01:12and also the interests of our allies.
01:14And if we create a precedent in the Middle East where a nation-state can decide that they are going
01:20to control an international waterway,
01:21charge a toll, and if you don't pay them, blow up your ships, we have created a very dangerous precedent,
01:26which will repeat itself in other parts of the world, including in this region.
01:31So what is at stake here is not simply the issue of what's happening in the Straits of Hormuz.
01:35There's a very fundamental principle about freedom of navigation.
01:38And if that is threatened, then I think the global economy is threatened,
01:41and the rules which have underpinned 150 years of international trade and commerce are also threatened.
01:47And that cannot be allowed to happen.
01:50May I thank you.
01:52Has the amendment.
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