Trump bets on India-Middle East-Europe economic corridor as alternative to Hormuz

President Donald Trump announced his support for the economic corridor between India, the Middle East, and Europe, positioning it as a means to route Middle Eastern oil away from chokepoints under Iranian influence, as tensions escalate over navigation and energy in the region.

Trump said Iranian attacks on commercial vessels in neighboring countries highlighted the need to move energy infrastructure in the Middle East away from Iranian checkpoints.

He added: "Iranian terrorist attacks on commercial vessels in neighboring countries have demonstrated the necessity of moving energy infrastructure in the Middle East away from Iranian checkpoints. For this reason, my administration strongly supports the economic corridor between India and the Middle East, and other projects, for oil extraction, whether through pipelines or otherwise. Together, we are on the verge of overcoming challenges that have plagued this region for a decade."

The India-Middle East-Europe economic corridor is a multilateral, multimodal initiative for connectivity and infrastructure, officially unveiled on September 9, 2023, during the G20 summit in New Delhi.

The project aims to enhance connectivity, trade, and sustainability across South Asia, the Middle East, and Europe.

Trump's remarks came during a multilateral meeting with the Gulf Cooperation Council on Tuesday, on the sidelines of the high-level session of the United Nations General Assembly in New York.

These statements come as Iran has repeatedly threatened to close or disrupt operations in the Strait of Hormuz, the narrow maritime passage between Iran and Oman, amid ongoing tensions with the West.

Trump's backing of the project comes amid rising tensions over the Strait of Hormuz, a critical global shipping route for oil and gas.

In a speech before the United Nations General Assembly, Trump said he could "annihilate Iran" if no agreement is reached to end the war, but also hinted at the possibility of a deal soon, amid diplomatic efforts at the UN.

He said: "I am facing a fateful decision."

He added: "Will there be an agreement with Iran allowing it to rebuild and create a far greater nation than it ever was? Or will I swiftly destroy the Islamic Republic and not give it another chance to kill and destroy people and nations?"

Iran's armed forces later responded to Trump's remarks, calling them "propaganda," and affirmed their response would be "full readiness to deliver harsher, more brutal, and unexpected blows to aggressors."