U.S. President cites existence of alternative maritime routes
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U.S. President Donald Trump stated that there is no need to continue the Freedom of Navigation Project aimed at ensuring the passage of commercial vessels through the Strait of Hormuz. According to Trump's statement, alternative routes exist for maritime commerce.
The Strait of Hormuz is a strategic waterway through which 21 percent of global oil trade passes. Trump's statement raises questions about the review of security measures planned under the project. According to claims, costs associated with the project could be reduced by utilizing alternative maritime routes.
Trump said there is no need to continue the Freedom Project, which aims to secure ship traffic passing through the Strait of Hormuz. The president stated that alternative sea routes exist and that it is possible to reduce costs associated with the project.
Since 21 percent of global oil trade passes through the Strait of Hormuz, abandoning this project could lead to fluctuations in oil prices and energy security. Postponing the project could cause changes in commercial shipping routes and affect international maritime trade costs.