Trump's tacit acknowledgment of Iran's dominance over the Strait of Hormuz Donald Trump justified the rise in global oil prices by implicitly acknowledging Iran's control of the Strait of Hormuz. The President of the United States saw the increase in the price of oil as a small cost compared to what he called "receiving nuclear weapons from Iran" and claimed that he was aware of the possibility of an increase in the price of oil and it was a choice! Trump previously spoke about controlling the Strait of Hormuz, the waterway through which a fifth of the world's fuel passes, and the daily passage of oil.