00:01Your Royal Highness, Excellencies, please make yourselves comfortable, relax, and share your warmest smiles.
00:24By placing your right hand over your left, please hold the pose, maintain your smile, and look toward the center
00:32cameras. Ready? In 3, 2, and 1.
00:38Excellent. Thank you, Your Royal Highness and Excellencies.
00:55I am also very pleased to welcome my co-chair Secretary Rubio.
01:00Once again, the United States is always committed to diplomacy.
01:03We are open-minded and always willing to engage in negotiated settlements of differences.
01:08And that remains true in the case of Iran.
01:11Directly and indirectly to engage in talks about settling the differences with regards to what's happening.
01:16Unfortunately, so far, even though we have reached agreements, they have not kept their commitments.
01:20And as the President stated earlier today, I guess, yesterday, Washington time, yesterday, our time here.
01:27Now, the problem we're having right now is that they're not serious about talks.
01:32If they're serious, we're serious.
01:33If they're not, then we will do what is necessary to protect that, our interests, and also the interests of
01:37our allies.
01:38But we appreciate that. I know how much work goes into putting one of these on, and you've done a
01:42phenomenal job, and we thank you.
01:44And if we create a precedent in the Middle East where a nation-state can decide that they are going
01:50to control an international waterway,
01:51charge a toll, and if you don't pay them, blow up your ships, we have created a very dangerous precedent,
01:56which will repeat itself in other parts of the world, including in this region.
02:01At its core, it's very simple. Iran demands the right, which they do not have under any...
02:06So what is at stake here is not simply the issue of what's happening in the Straits of Hormuz.
02:11There's a very fundamental principle about freedom of navigation.
02:14And if that is threatened, then I think the global economy is threatened,
02:17and the rules which have underpinned 150 years of international trade and commerce are also threatened.
02:23And that cannot be allowed to happen.
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