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(Bloomberg) — US President Donald Trump said attacking oil infrastructure on Iran’s main export hub, Kharg Island, remains on the table following earlier strikes on military targets there.
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“We can do that on five minutes notice it’ll be over, but for purposes of someday rebuilding that country,” Trump said in remarks at the White House Monday. “I guess we did the right thing, but it may not stay that way.”
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Trump announced Friday the US had bombed military targets on the island but spared its oil infrastructure. He warned Iran’s leaders that he would immediately reconsider that decision if they interfered with ships transiting the Strait of Hormuz. Traffic through the strait has been effectively shut down since the US-Israel war on Iran began late last month.
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Kharg Island, which sits about 25 kilometers (16 miles) off Iran’s coast, ships about nine out of every 10 barrels of Iran’s crude exports, most of it bound for China.
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If the island’s oil assets became a target, the impact could immediately ripple across energy supply chains, potentially sending global crude prices even higher and stoking inflation in major industrialized nations including the US.
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The US “literally destroyed everything on the island, except for the area where the oil is,” Trump said on Monday. “I call it the pipes. We left the pipes. We didn’t want to do that, but we will do that.”
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Trump, in response to questions from reporters, added that the US had destroyed Iran’s mine-laying ships, a move he said would help reopen the Strait of Hormuz. About a fifth of the world’s energy supplies transit the key waterway.
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“I think we’ll get it going very soon,” he said.
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(Updates with Trump’s comments on reopening Strait of Hormuz in last two paragraphs.)
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