President Donald Trump announced Sunday that his administration is actively negotiating with seven unnamed countries to form a multinational coalition aimed at securing the Strait of Hormuz, the critical waterway that Iran has largely closed to oil tanker traffic since the outbreak of the U.S.-Israeli military campaign against Tehran.
Speaking to reporters aboard Air Force One, Trump emphasized that nations heavily dependent on Gulf oil bear a shared responsibility to protect the strait. "I'm demanding that these countries come in and protect their own territory," Trump stated, adding that he expects multiple nations to deploy warships to the region. In a separate social media post, Trump named China, France, Japan, South Korea, and Britain as potential participants in the effort.
Now entering its third week, the conflict continues to rattle global energy markets, with crude oil prices hovering near $100 per barrel. Despite the economic strain, U.S. officials expressed confidence that the war would conclude within weeks, forecasting a subsequent drop in energy costs. Energy Secretary Chris Wright echoed that optimism, telling ABC's This Week that a rebound in oil supplies should follow once hostilities end.
However, Iranian Foreign Minister Abbas Araqchi pushed back against Trump's claims that Tehran is open to negotiations, saying Iran has neither requested a ceasefire nor sought diplomatic talks. "We are ready to defend ourselves for as long as it takes," Araqchi told CBS's Face the Nation.
The Wall Street Journal reported that the Trump administration plans to announce a formal escort coalition as early as this week, though discussions are still ongoing about whether naval operations would begin before or after the conflict concludes. The Strait of Hormuz remains one of the world's most vital oil corridors, accounting for roughly 20% of global oil supply.


South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks
Marco Rubio Seeks Gulf Support for U.S.-Iran Peace Deal Amid Regional Concerns
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand
US Senate Approves War Powers Resolution Urging Trump to End Iran Military Action
South Korea Remains MSCI Emerging Market Despite Reform Progress
Trump Administration Rejects Claims of Rift Between JD Vance and Marco Rubio on Iran Policy
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings
US Approves $250 Million Fighter Jet Training Sale to Australia
ICC Judges Sue Trump Administration Over Sanctions, Calling Measures Unlawful
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response
Marco Rubio Reassures Gulf Allies Over U.S.-Iran Peace Deal 



