Gate News reports that on March 13, U.S. Secretary of the Treasury Janet Yellen revealed that the U.S. Navy will escort oil tankers passing through the Strait of Hormuz. Yellen stated, “As long as military conditions permit, the U.S. Navy—perhaps together with an international coalition—will immediately begin escorting ships. In fact, oil tankers are still passing through, including Iranian tankers. So we know they haven’t blocked the strait.” Previously, Iran’s new Supreme Leader, Ayatollah Ali Khamenei, on Thursday, announced plans to leverage the strategic waterway of the Strait of Hormuz, which accounts for 20% of the world’s oil supply, as a bargaining chip against the United States and Israel.
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