Control of the Strait: If negotiations fail, Trump told Fox News the U.S. may take over the Strait of Hormuz by force, collect tolls, and seize 20% of the oil that passes through it to fund military operations.
Commercial shipping vessels navigate international waters near a key trade route. Iran's announcement that it was closing the critical Strait of Hormuz shipping lane has caused immediate hesitation among oil tanker captains and insurance companies. US says traffic is moving through.
Senator Lindsey Graham, after a four-and-a-half-hour meeting with the President, publicly predicted the talks will ultimately fail, triggering the U.S. takeover of the strait. For now, diplomats are reportedly utilizing back-channel discussions to coax both sides back to the negotiating table.
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