Escorts Through Hormuz 'At Least Four Weeks Away' Says Ian Bremmer

Eurasia Group President and Founder Ian Bremmer joins David Gura and Christina Ruffini this morning for a wide-ranging conversation on President Trump's actions during the Iranian war and the impact on global markets and America's international standing. Bloomberg This Weekend to break it down. Watch the show LIVE every Saturday and Sunday morning. US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed, upping the ante in a war that’s showing no sign of de-escalation into its fourth week. Trump, under pressure to bring down soaring oil prices, said Iran must “fully open, without threat,” the vital waterway for energy flows. He gave the Islamic Republic 48 hours “from this exact point in time,” in a Truth Social post sent at 7:44 p.m. New York time on Saturday. Iran countered that — if its power facilities do come under attack — it would close the Strait of Hormuz “completely,” state TV reported on Sunday, citing a statement from army command. The passage has been effectively shut since the US and Israel began attacking Iran on Feb. 28, though vessels from certain countries have managed to get through. The Iranian military will target “all energy, information technology, and desalination infrastructure belonging to the US and the Israeli regime in the region,” the semi-official Tasnim news agency said. The rhetoric suggests neither side is willing to back down, with the war having already triggered an unprecedented oil and gas supply crisis. The latest threats follow a week of heavy hits on crucial energy infrastructure in the Middle East, deepening the prospect of the fighting having a long-term impact on the global economy. Oil and gas flows are likely to take time to return to normal levels even after the Strait of Hormuz reopens, with many production sites damaged. The blockages are also causing shortages of fertilizer and crop nutrients, raising the prospect of critical disruptions to food output.  Read More: Iran War Jeopardizes Trump Plans for Big Oil’s Energy Dominance The US and Israel continued to target sites in Iran on Sunday, including around the capital, Tehran. The Islamic Republic is firing missiles and drones at Israel and Arab Gulf nations. US Treasury Secretary Scott Bessent said ongoing attacks on Iran are aimed at destroying its fortifications along the Strait of Hormuz. Trump will “take whatever steps it takes” to achieve goals including destroying Iran’s air force and navy, denying it the ability to have nuclear weapons and “their ability to project power internationally,” Bessent said Sunday on NBC’s Meet the Press. Israeli Prime Minister Benjamin Netanyahu also reiterated his country’s military objectives, telling reporters the aims are to “break completely their nuclear program, break completely their missile program.” He added that Israel has “a goal of creating conditions” for Iranians to overthrow their leaders. The Iranian regime isn’t close to falling and officials are coalescing around the remaining leaders, according to Western intelligence assessments and people familiar with the matter. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake