Washington, Aug 04 (V7N) – US President Donald Trump has accused major oil companies of making excessive profits by taking advantage of the crude oil market disruption caused by the ongoing conflict with Iran.
According to an AFP report, Trump made the remarks while speaking to reporters at the White House on Monday (August 3) local time.
He said major oil companies are earning extraordinary profits because oil prices have surged amid the crisis.
“I don't like it. They're making extra money, okay? They're making extra money because of the crisis,” Trump said.
The US president also reiterated that Iran would not be allowed to collect fees from ships transiting the Strait of Hormuz.
Responding to a reporter's question about whether Iran would restore unrestricted navigation through the strategic waterway, Trump said Tehran would not be permitted to charge commercial vessels using the route.
“Iran will not be allowed to collect any money from ships using the Strait of Hormuz,” Trump said.
The Strait of Hormuz is one of the world's most important maritime chokepoints for global oil and gas shipments. The ongoing conflict between the United States and Iran has heightened concerns over energy supplies and international shipping through the vital waterway.
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