Donald Trump: United States President Donald Trump has announced a complete naval blockade of all ports as well as coastal areas of the Islamic Republic of Iran after talks between the two nations failed in Islamabad.
Donald Trump Blocks Hormuz
In a Truth social post, Trump wrote that no one who pays an illegal toll will have safe passage on the high seas. The US President also commented that the United States would continue to clear mines from the strategic Strait of Hormuz so all ships could pass securely. Trump went on to remark that the US military was fully equipped and loaded to initiate attacks at an appropriate moment against Iran.
DON'T MISS
On April 11, the USS Michael Murphy and USS Frank E Peterson, both Burke-class guided-missile destroyers, entered the Strait of Hormuz to clear sea mines that were previously laid by Iran’s Islamic Revolutionary Guards Corps (IRGC).
CENTCOM commander Admiral Brad Cooper commented that the United States has initiated the process to establish a smooth and hassle-free passage to encourage the free flow of commerce. The CENTCOM version was rubbished by Iran, saying the movement of all vessels is in the hands of Iran’s armed forces.
Long Term Effect On Indian Economy Explained
In early market hours, crude oil prices surged to $102 a barrel while the West Texas Intermediate (WTI) crude oil prices jumped to $105.63 per bbl. Indian markets started poorly today with all major sectoral indices in the red. Overall sentiment in the market remained weak while public sector banks led losses, followed by oil & gas, financials and banking.
The impact of US Israel Iran war and the closure of Strait of Hormuz would have profound impact on the Indian economy. Supplies of LPG, PNG and other critical products are likely to hit each and every sector of Indian economy dramatically. This would eventually result in high prices, inflation and more troubles for the common man.
