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    1. Home
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    3. >Trump criticises allies over rejection of Hormuz request, as Iran and Israel trade airstrikes
    Finance

    Trump criticises allies over rejection of hormuz request, as iran and Israel trade airstrikes

    Published by Global Banking & Finance Review®

    Posted on March 17, 2026

    4 min read

    Last updated: March 17, 2026

    Trump criticises allies over rejection of Hormuz request, as Iran and Israel trade airstrikes - Finance news and analysis from Global Banking & Finance Review
    Tags:FinanceEnergy MarketsMiddle EastGeopolitics

    Quick Summary

    President Trump criticized longtime allies for rebuffing his request to send warships to escort tankers through the Strait of Hormuz, as the U.S.-Israeli conflict with Iran entered its third week, driving disruptions in a waterway handling around 20% of global oil and LNG trade.

    Table of Contents

    • Escalating Tensions in the Gulf and Global Oil Market Impact
    • International Response and Diplomatic Tensions
    • Military Escalation and Regional Strikes
    • Drone and Missile Attacks Intensify
    • Impact on Regional Infrastructure
    • Unexpected Retaliation and Market Reaction
    • Trump’s Response to Iranian Strikes
    • Warnings and Economic Consequences
    • Human Cost of the Conflict
    • Reporting and Editorial Notes

    Trump Criticizes Allies as Hormuz Crisis and Iran-Israel Strikes Roil Oil Markets

    Escalating Tensions in the Gulf and Global Oil Market Impact

    By Alexander Cornwell and Jonathan Landay

    March 17 (Reuters) - U.S. President Donald Trump accused some Western allies of ingratitude after several countries rebuffed his demand to send warships to escort oil tankers through the Strait of Hormuz, as Iran continued to target oil facilities in the Gulf.

    The U.S.-Israeli war on Iran is in its third week with no end in sight. The critical Strait of Hormuz, through which 20% of the world's oil and liquefied natural gas flow, remains largely closed off, raising energy prices and fears of inflation.

    A number of U.S. partners, including Germany, Spain and Italy, said they had no immediate plans to send ships to help reopen the strategic waterway, which Iran has effectively shut with drones and naval mines.

    International Response and Diplomatic Tensions

    "We lack the mandate from the United Nations, the European Union or NATO required under the Basic Law," German Chancellor Friedrich Merz said in Berlin, adding that Washington and Israel had not consulted Germany before launching the war.

    Trump, speaking at a White House event in Washington, said many countries had told him they were prepared to help, but voiced frustration with some long‑standing allies.

    "Some are very enthusiastic about it, and some aren't," he said, without offering specifics. "Some are countries that we've helped for many, many years. We've protected them from horrible outside sources, and they weren't that enthusiastic. And the level of enthusiasm matters to me."

    Military Escalation and Regional Strikes

    Drone and Missile Attacks Intensify

    DRONES AND MISSILES STRIKE ACROSS THE REGION

    There was no let-up in attacks by both sides early on Tuesday, with the Israeli military saying it was targeting "Iranian regime infrastructure" across Tehran, as well as Hezbollah sites in Beirut, a day after saying it had drawn up detailed plans for at least three more weeks of war with Iran.

    Iran launched overnight attacks on Israel, underscoring that, more than two weeks into the war, Tehran still retains the capacity to carry out long-range strikes. It also targeted the United Arab Emirates, where attacks forced the temporary closure of airspace and a drone hit an oil facility in Fujairah, a key port for Emirati oil exports, for a second consecutive day.

    Impact on Regional Infrastructure

    On Monday, Dubai International Airport, typically one of the world's busiest, was closed for several hours; oil loading operations in Fujairah were halted, and operations at the Shah gas field in Abu Dhabi were suspended following drone strikes.

    Iran has said that a U.S. attack over the weekend on military sites at Kharg Island, a key hub for the country's oil exports, was launched from the UAE, and warned that it would target oil and gas facilities in any country from which U.S. strikes on the island were carried out.

    Iran has also said that it would target U.S. industrial facilities in the Middle East and urged people living near U.S.-owned plants to leave.

    Rockets and at least five drones also targeted the U.S. embassy in Baghdad early on Tuesday, Iraqi security sources said, describing it as the most intense assault since the war began. Two U.S. officials said no injuries were reported so far.

    Unexpected Retaliation and Market Reaction

    Trump’s Response to Iranian Strikes

    'NOBODY EXPECTED THAT. WE WERE SHOCKED'

    Trump said earlier on Monday that Iran’s retaliatory strikes against its neighbours including Qatar, Saudi Arabia, the United Arab Emirates, Bahrain and Kuwait were a surprise.

    "They (Iran) weren’t supposed to go after all these other countries in the Middle East," he said. "Nobody expected that. We were shocked."

    Warnings and Economic Consequences

    However, Trump was warned that attacking Iran could trigger retaliation against U.S. Gulf allies, according to a U.S. official and two sources familiar with U.S. intelligence reports.

    Oil prices rose more than 2% in early trade on Tuesday, reversing some of the previous session's losses, on worries about supply, while Asian shares also rallied after Monday's sell-off.

    Human Cost of the Conflict

    The war has killed at least 2,000 people across the Middle East since the U.S. and Israel attacked Iran on February 28, including at least 200 children in Iran, according to Iranian Foreign Minister Abbas Araqchi.

    At a burial site in Iran on Monday, Marzia Rezaei wept for her son Erfan Shamei, who died in a blast at a military training camp days before he was due home on leave.

    "Just an hour before he was martyred, he spoke with me and then I never saw him again. He was supposed to come today," she said.

    Reporting and Editorial Notes

    (Reporting by Reuters bureaux; Writing by Lincoln Feast; Editing by Michael Perry)

    Key Takeaways

    • •Strait of Hormuz is a critical energy chokepoint—handling ~20 million barrels per day (~20 % of global petroleum liquids consumption) and ~20 % of global LNG flows, making disruptions inflationary and geopolitically dangerous (EIA, Al Jazeera)
    • •Despite Trump’s demand for coalition warships—including appeals to about seven countries—none have committed; many express legal or strategic reservations (AP)
    • •Disruptions—including drone and missile attacks impacting Fujairah and Gulf exports—are hampering tanker traffic, spiking market anxiety and pushing oil prices higher (AP, AA analysis)

    Frequently Asked Questions about Trump criticises allies over rejection of Hormuz request, as Iran and Israel trade airstrikes

    1Why did Trump criticize Western allies regarding the Strait of Hormuz?

    Trump criticized Western allies for refusing his request to send warships to escort oil tankers through the Strait of Hormuz amid rising tensions with Iran.

    2How has the Iran-Israel conflict affected global oil markets?

    The conflict has led to attacks on key oil facilities, temporary shutdowns of ports and airports, and a significant increase in oil prices.

    3Which countries declined to send ships to the Strait of Hormuz?

    Germany, Spain, and Italy stated they had no immediate plans to send ships, citing lack of a UN, EU, or NATO mandate.

    4What were the economic consequences of the Strait of Hormuz crisis?

    The crisis raised energy prices and fears of inflation due to the disruption of oil and gas flows through the strategic waterway.

    5What retaliations has Iran threatened amid the ongoing conflict?

    Iran threatened to target oil and gas facilities in any country used to launch attacks on its territory, and warned civilians near U.S.-owned plants to leave.

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