Miguel Ponce questioned Trump's speech: "Who really controls the Strait of Hormuz is Iran"

Miguel Ponce, an international trade specialist, challenged U.S. President Donald Trump's statements regarding Iran’s influence over the Strait of Hormuz during an interview with Canal E. Ponce argued that despite Trump's efforts to reassure global markets, the reality is that Iran holds the dominant position in controlling the strategic waterway. His comments came amid rising tensions between the United States and Iran, which have led to renewed uncertainty about energy security and economic stability worldwide. The situation escalated after Iran denied engaging in talks to extend a ceasefire agreement, according to Ponce. He stated that there are currently no negotiations underway because the U.S. has allegedly violated the terms of the ceasefire. This lack of dialogue has increased geopolitical uncertainty, which he warned could lead to further economic repercussions. The dispute centers around the Strait of Hormuz, through which approximately 20 million barrels of oil pass daily, a figure that has dropped to just over two million barrels per day due to ongoing hostilities and disruptions. The reduction in oil transit through the Strait of Hormuz has had ripple effects beyond the immediate region. Alternative shipping routes have been proposed to bypass the strait, but these alternatives have not yet managed to compensate for the loss in volume. In the Red Sea, Houthi rebels are reportedly operating near the Bab-el-Mandeb Strait, disrupting maritime traffic and further complicating the already fragile situation. These developments contribute to growing concerns about the stability of global oil supplies and their impact on economies dependent on petroleum imports. Ponce highlighted the potential consequences of this energy crisis, particularly the sharp rise in crude oil prices. He noted that the decline in strategic oil reserves has pushed prices toward $140 per barrel, a level that would significantly affect global markets. European economic newspapers have already begun reporting on the implications of such price increases, emphasizing the vulnerability of economies reliant on imported oil. For Argentina, the current international climate presents both challenges and opportunities. While the country faces risks associated with global instability, Ponce suggested that Argentina could benefit from positioning itself as a reliable energy supplier. He pointed out that the uncertainty surrounding energy markets has tightened global trade and reinforced the importance of secure and consistent supply chains. This shift could potentially open new avenues for Argentina to expand its role in the international energy sector. The expert emphasized that the situation underscores the interconnectedness of global economies and the critical role played by key geographic chokepoints like the Strait of Hormuz. As tensions continue to simmer between major powers, the need for diplomatic solutions becomes increasingly urgent. The absence of direct communication between the U.S. and Iran adds another layer of complexity to an already volatile scenario, raising questions about how long the current standoff can persist before more drastic measures are taken.