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International Business Times UK

World

Aiza Moraña

'We Don't Need the Hormuz Strait': Trump Claims US and Venezuela Now Control 62% of World's Oil Market

Donald Trump Oil United States Venezuela Hormuz the Hormuz Strait Iran the Strait of Hormuz Strait of Hormuz

Trump Claims U.S. No Longer Relies on Strait of Hormuz Amid Rising Tensions (Credit: Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons)

President Donald Trump has claimed that the United States no longer depends on the Strait of Hormuz, declaring at a rally that America and Venezuela together now control around 62 per cent of the world's oil market.

Speaking in Georgia on Wednesday, he said recent US actions have reduced the country's exposure to Middle Eastern shipping routes.

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