00:00The problem we're having right now is that they're not serious about talks.
00:03If they're serious, we're serious.
00:05If they're not, then we will do what is necessary to protect that,
00:08our interests and also the interests of our allies.
00:11If we create a precedent in the Middle East
00:14where a nation-state can decide that they are going to control an international waterway,
00:18charge a toll, and if you don't pay them, blow up your ships,
00:21we have created a very dangerous precedent
00:23which will repeat itself in other parts of the world, including in this region.
00:29So what is at stake here is not simply the issue of what's happening in the Straits of Hormuz.
00:33There's a very fundamental principle about freedom of navigation,
00:36and if that is threatened, then I think the global economy is threatened
00:39and the rules which have underpinned 150 years of international trade and commerce are also threatened,
00:45and that cannot be allowed to happen.
00:48Our partnership with each of your countries and the region at large,
00:51it's in the national interest of the United States, and we will never abandon it.
00:55No matter what else is going on in the world,
00:57no matter what our bilateral relations may be with other countries.
01:00No matter what our bilateral relations may be with other countries.
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