U.S. President Donald Trump said he will declare the Strait of Hormuz a U.S. ‘territory’ once Iran is defeated, according to Al Jazeera. In a speech to law enforcement officials in New York, Trump framed the U.S. blockade of the strait as a ‘wall of steel’ and a public service for global commerce. ‘You just have to remember that what we’re doing is a great service for the world. Not only for ourselves, for the world,’ he said.

Strait of Hormuz Tensions Escalate

The Strait of Hormuz has become a flashpoint in the ongoing U.S.-Iran conflict. In June, the U.S. and Iran signed a memorandum of understanding (MOU) to halt military operations, but both sides later accused each other of violations, and fighting resumed by the end of the month, according to Al Jazeera. The U.S. has established its own blockade in the strait, recently firing on a cargo vessel it accused of attempting to reach Iranian ports.

Iran has continued to target commercial vessels in the strait, claiming part of the strait falls within its territorial waters. ‘The Strait of Hormuz was, is, and will remain Iranian; it will only be opened and closed under Iranian command,’ said Kazem Gharibabadi, Iran’s Deputy Foreign Minister, according to Todo Alicante. He added that Iran will continue to enforce the blockade as long as it ‘does not accept the reality of defeat.’

Trump’s Stance on Nuclear Weapons and Diplomacy

Trump also stated that ongoing U.S. military actions against Iran aim to prevent the country from acquiring nuclear weapons, according to CryptoRank. ‘Tehran would inevitably develop them if Washington held back,’ he said. He criticized Iran’s approach to negotiations, accusing it of agreeing to terms in private only to reject them publicly.

The 2015 Joint Thorough Plan of Action (JCPOA) limited Iran’s enrichment activities in exchange for sanctions relief, but the U.S. withdrew from the deal in 2018 under Trump’s first administration. Iran then scaled back its commitments, enriching uranium to higher levels and limiting international inspections, according to CryptoRank.

Impact on Global Markets and Midterm Politics

The Strait of Hormuz is a critical global energy chokepoint, with roughly 20% of global oil transiting the strait. Brent crude is currently trading below $70 per barrel, down from peaks above $90 in 2022, according to CryptoRank. A sustained conflict could disrupt oil supply, potentially driving up energy prices and affecting inflation and global markets.

Trump’s comments came as he campaigned for Republican candidates in the 2026 U.S. midterm elections. Republican control of the U.S. Congress is at stake. Despite his repeated claims of victory over Iran, the war remains widely unpopular in the U.S., according to Al Jazeera.