Raising Stakes in the Strait of Hormuz (From Fox News)

FOX News America Reports anchor John Roberts and guest host Jacqui Heinrich, FOX News White House Correspondent, kicked off the discussion of the commercial ships moving through the Strait of Hormuz, the Iran blockade, China in the spotlight and more. Highlights below and clip here.

John Roberts: Loaded oil tanker in the Strait of Hormuz briefly catching fire after it was hit by some form of projectile.  Latest attack coming in shipping traffic increases and the U.S. ramps up economic pressure on Iran.  Here’s what President Trump said about the Strait of Hormuz just a few minutes ago. Listen.

President Donald J. Trump (Sound on Tape): Last night we took 24 boats through the Strait, we’re taking them through all the time, very openly.  It doesn’t mean we’re finished with the military.  But the Strait is open, as you know.  The Strait of Hormuz is open.  We have control and we have the blockade.  Iran’s not getting anything.  Nothing is going through.  Not one ship has gotten through.

John Roberts: I mean if you’re getting 24 ships through a day, that’s a lot of oil, and that takes a lot of heat off the President when it comes to oil prices.

Rebecca Grant: This is big.  Central Command’s been very quiet about it, but we’ve had military forces – the Marines on the amphibious ships, the Apache helicopters, the carriers, you name it – helping to keep that southern route around Oman clear.  So, there are ships moving through, either coming through or doing ship-to-ship transfers of oil.  He also said the Space Force is a laser eye watching everything that goes on in the Strait, and as we know, watching the nuclear dust as well.  So, it is U.S. military power in the lead, and a nice counterpunch coming with the economic fury as well.

Jacqui Heinrich: It’s becoming clearer this is not going to be wrapped up before the midterms.  You have folks like Marc Thiessen, a very talented guy who we have on often, writing today in a Washington Post op-ed.  Talking about the President: “He’s the first American president to take the words of our enemy seriously and act before they were able to kill millions even if it hurts him politically in November.  He will be rewarded by history.”  Obviously, he’s talking about the nuclear threat there, but this has become something other than the nuclear threat at this point, with the Strait.   What kind of timeline are we looking at, from what you can glean right now?

Rebecca Grant: Well, I agree 100% with that, and let’s remember three important things. One, the military objectives have been completed: took away the nuke path, took away the power projection.  So, two, that leaves the Strait in the tactical control of the U.S. Navy.  But here’s the third part.  This is really calling out China for the co-conspirator that they are.  For buying Iran’s oil, for selling the missile fuel chemicals and for all the harm that they have caused.  That’s got big geopolitical consequences, not just now and in the Middle East but, in our longer struggle with China.  We’ve got to be patient and see this through.

John Roberts: Well, China is going to try to mess with this any way they can.  Iran and Oman, having talks about the Strait of Hormuz again, with the IRGC saying yes we’ve agreed to a revenue sharing program. Why do they keep going down this rabbit hole, because that ain’t going to happen?

Rebecca Grant: None of the international shippers are going to agree long-term to pay tolls. These tolls are like a million dollars per large oil tanker.  This is not going to last.  Iran is in fantasyland if they think they’re going to make money off the Strait of Hormuz.  No way.

Jacqui Heinrich: Final thing, because you mentioned China, the President was asked today, why not just sanction Chinese banks?  And he said, how do you know I’m not doing that? Do I have to announce everything?  Any indication that that is happening, quietly behind the scenes?

Rebecca Grant: President Trump and Secretary Bessent, they don’t like to spar with China in public, but I think they are ready to go after some of the teapot oil refiners and some of the banks that provide that financing over to the IRGC.  Bessent’s got it ready to go if China doesn’t clean up its act.