Obama says Iran has ‘Veto Power’ over Hormuz, blames crisis for rising prices

• The former president contrasted his administration’s 2015 nuclear agreement with Iran with military approaches, saying diplomacy had achieved results without firing a missile.
• His remarks come amid heightened tensions over the strategic waterway, a critical route for global oil shipments.

Former US President Barack Obama said Saturday that Iran now has “veto power” over the Strait of Hormuz, linking the strategic waterway’s disruption to rising oil prices and broader increases in the cost of living, while defending his administration’s nuclear agreement with Tehran as an example of diplomacy preventing the need for military action.

“Iran now has veto power over the Strait of Hormuz, where oil goes through to the world market,” Obama said.

“This is the reason why the price of oil is up. Nobody disputes that. This is the reason the price of diesel is up,” he added, linking the situation to rising prices across the economy.

Obama also defended his administration’s approach to Iran’s nuclear program, arguing that negotiations had prevented Tehran from obtaining nuclear weapons without resorting to military force.

“Iran didn't have nuclear weapons because I had put a deal in place and I didn't have to fire a missile to do it. I just had to engage in diplomacy,” he said.

Obama was referring to the 2015 Joint Comprehensive Plan of Action (JCPOA), an agreement between Iran and six world powers that imposed restrictions on Tehran’s nuclear activities in exchange for sanctions relief and established international monitoring measures.

The agreement was a central element of Obama’s foreign policy toward Iran. President Donald Trump withdrew the United States from the deal in 2018 during his first term and reimposed sanctions on Tehran.

The Strait of Hormuz, located between Iran and Oman, is one of the world’s most important energy transit routes, carrying oil and petroleum products from Gulf producers to international markets. Disruptions to shipping through the waterway can send energy prices higher, with knock-on effects for transportation, manufacturing and consumer costs.

The dispute over the strait has become a key dimension of the wider confrontation, as control over access to the waterway gives Iran significant leverage over global energy flows.

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