Donald Trump told a rally in Garden City, New York, that once the United States defeats Iran it will "declare the Hormuz Strait a territory of the United States." He added that Americans should be ready to pay "a tiny little bit more for your gasoline" while the conflict continues.
Iran's response
Iran rejected the notion outright. Deputy Foreign Minister Kazem Gharibabadi posted on X that the strait will be opened and closed only under Iran's command and warned that Tehran will keep enforcing the blockade as long as Washington refuses to accept defeat. Foreign Minister Abbas Araqchi told the news outlet Shahrara that Iran has not decided to resume talks and that any resumption of shipping depends on the United States meeting Tehran's conditions.
Implications for Canada
U.S. gasoline prices are up 29 percent year‑on‑year, according to the American Automobile Association, and the surge is already spilling over the border. Canadian consumers face higher pump prices as the United States remains a major source of refined fuel for many provinces. The slowdown in tanker traffic through the Strait of Hormuz, only two vessels were recorded on Friday compared with more than 130 a day before the war, tightens global oil supplies and puts pressure on the price of Canadian crude that is exported to Asia via the Pacific.
Canada's energy security strategy, which relies on diversified export routes and close coordination with the United States under the North American Energy Working Group, will have to account for the heightened risk of further disruptions. Ottawa may also need to discuss additional measures with Washington to protect Canadian shipping and to support NATO's broader response to regional instability.
U.S. Treasury Secretary Scott Bessent said on a Newsmax programme that further financial actions against Iran are imminent, signalling a possible escalation of sanctions that could affect Iranian oil sales and, by extension, global oil markets.
The conflict, launched on 28 February by the United States and Israel, has stalled any progress toward peace talks. Iran's deputy foreign minister emphasized that a strait cannot be seized by a tweet or an aircraft carrier, underscoring the limits of unilateral declarations in a contested waterway.
With no ceasefire in place and diplomatic channels stalled, the risk of a broader regional confrontation remains high. Canadian policymakers will be watching closely as developments in the Hormuz corridor could shape energy prices, trade flows and security calculations for the North Atlantic alliance.
Based on reporting by Global News.