# US Strikes Iran and Blocks Oil Sales

An episode of [Bloomberg Daybreak: Asia Edition](https://invisiblenetwork.ai/podcast/1663863437), 8 Jul 2026, 20 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/58e85be7-dbb5-4043-afed-af80014dc0b3/99f1ba3d-4c33-40c3-a678-b481001991a0/audio.mp3?utm_source=Podcast&in_playlist=27143354-63aa-4ac5-965d-af80014dc0d3

Business and finance news from the Asia-Pacific. Oil prices rose and Asian stocks were little changed as investors assessed the implications of renewed geopolitical tensions for energy supplies and risk assets. The moves came after US benchmarks fell on Tuesday, with a gauge of chip stocks dropping more than 4%. The Nasdaq 100 slid 1.8%. For more on the market action, we spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - The US launched airstrikes in Iran and revoked a waiver that allowed it to sell oil globally, further imperiling a peace agreement after a series of attacks on ships in the Strait of Hormuz. The US Treasury Department announced it was barring new sales of Iranian oil after July 7, a key incentive intended to get Tehran to abide by a deal that calls for reopening the strait. The American actions marked the most serious threat yet to the interim agreement signed between the two countries' leaders on June 17, and threatened to scuttle negotiations aimed at achieving a permanent peace. Bloomberg TV host Paul Allen spoke to Jessica Genauer, Public Policy Institute Academic Director and Associate Professor in International Relations at the University of New South Wales (UNSW). See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Welcome to the Daybreak
[0:12] Speaker 1: Asia podcast. I'm Doug Krisner. Overnight, the US launched a
[0:15] Speaker 1: series of new strikes against Iran. Now, this action follows
[0:20] Speaker 1: Iran's attacks on three vessels in the Strait of Horne
[0:23] Speaker 1: Moves earlier in the day. We know that Tehran has
[0:25] Speaker 1: repeatedly said it will not allow vessels to transit the
[0:29] Speaker 1: Strait without its permission. Now, these attacks also prompted the
[0:33] Speaker 1: US Treasury to revoke a waiver allowing for the sale
[0:37] Speaker 1: of Iranian crude oil, and at the moment, crude oil
[0:40] Speaker 1: prices are higher, both WTI and Brent up by more
[0:43] Speaker 1: than two and a half percent each. For a closer
[0:46] Speaker 1: look at market action, let's bring in Bloomberg's Paul Dobson.
[0:49] Speaker 1: Paul is executive editor for Asian Markets, and he joins
[0:52] Speaker 1: from our studios in Singapore. Is the market really kind
[0:57] Speaker 1: of exposing the fact that it's been maybe a little
[1:00] Speaker 1: too complacent when it comes to some of the geopolitical risk.
[1:04] Speaker 2: Yeah, Hi there, Doug. I think that you can look
[1:07] Speaker 2: at it both ways, because although there is a knee
[1:10] Speaker 2: reaction include all prices higher, is in no way comparable
[1:14] Speaker 2: to the magnitude of the increases that we saw at
[1:17] Speaker 2: the outbreak of the war, and indeed outright levels and
[1:22] Speaker 2: nowhere near where the highs that we got to during
[1:26] Speaker 2: the period of conflict. So yes, the market had maybe
[1:30] Speaker 2: been a little bit on the complacent side about the
[1:35] Speaker 2: escalating risks. We saw over the weekend already some tankers
[1:38] Speaker 2: turning backwards doing one eighties, going in different directions as well,
[1:42] Speaker 2: So there was that background noise. But if you thought
[1:46] Speaker 2: that the market was complacent, then you could probably make
[1:49] Speaker 2: the argument that the market is still complacent now given
[1:52] Speaker 2: the given the potential for prices to be an awful
[1:55] Speaker 2: lot higher than than where they are in the energy market.
[1:58] Speaker 1: Still, one of the dom themes in New York trading
[2:02] Speaker 1: was this question of whether massive AI investments are justified.
[2:06] Speaker 1: And again today in the US session, the chip makers
[2:09] Speaker 1: were under particular scrutiny. Not even the record profit that
[2:13] Speaker 1: we had on Tuesday from Samsung could stanch the bleeding here.
[2:17] Speaker 1: I mean, we know that in Soul trading in Tuesday
[2:21] Speaker 1: session Samsung was down nine percent. The stock right now
[2:24] Speaker 1: is off about one point four percent as we are talking.
[2:28] Speaker 1: And in the US session we had the Philadelphia Semiconductor
[2:31] Speaker 1: index down by more than four and a half percent.
[2:34] Speaker 1: Talk to me about what the feeling is, the vibe,
[2:37] Speaker 1: if I can use that term when it comes to
[2:40] Speaker 1: the AI trade in Asia.
[2:43] Speaker 2: I guess you would characterize it as being highly unstable
[2:48] Speaker 2: right now. In the first five months of the year,
[2:51] Speaker 2: there was a very confident narrative in the growth in
[2:54] Speaker 2: profit and the earning's potential for those companies and therefore
[3:00] Speaker 2: the path for higher stock prices. Now since then, we've
[3:04] Speaker 2: just gone into this phase where markets have been incredibly volatile,
[3:08] Speaker 2: particularly in South Korea. So a swing of five percent
[3:11] Speaker 2: from one day to the next is almost part of
[3:14] Speaker 2: the course. Whereas you know, it would have been almost
[3:18] Speaker 2: unheard of six months or a year ago for you
[3:21] Speaker 2: to get such big swings so regularly. I think, even
[3:24] Speaker 2: more critically, South Korea and Asia's markets kind of seem
[3:28] Speaker 2: to be setting the tone and the agenda for the
[3:29] Speaker 2: US markets as well. So, yes, we had a dam
[3:32] Speaker 2: move in the socks in the US, but that followed
[3:35] Speaker 2: on from what was already a negative day in South
[3:38] Speaker 2: Korea in trading in yesterday's Asia session, and so therefore
[3:44] Speaker 2: you know, it's a little bit like the tail wagging
[3:47] Speaker 2: the dog in some ways, just at this moment in time.
[3:49] Speaker 2: But I would say on Samsung is it's often the case,
[3:54] Speaker 2: actually that when they report these earnings figures, that's seen
[3:57] Speaker 2: by the local investors as an opportunity to take some
[4:00] Speaker 2: profit more times when it beats. So I think out
[4:04] Speaker 2: of the last sixteen times it's reported a number of
[4:07] Speaker 2: beat analyst estimates, the stock has nonetheless fallen on those days,
[4:11] Speaker 2: So that seems to be more of a reason that
[4:14] Speaker 2: people see as a okay, this is the best it's
[4:16] Speaker 2: going to get for now kind of moment. And actually
[4:20] Speaker 2: when the earning's missed, that brings in buyers more often
[4:23] Speaker 2: than it brings in sellers as well. So it's a
[4:25] Speaker 2: very confusing, sort of counterintuitive response that you get. And
[4:29] Speaker 2: I think that there's every possibility that the market will
[4:33] Speaker 2: look to find a flaw again at some point and
[4:35] Speaker 2: build momentum again, because ultimately you do still have that
[4:39] Speaker 2: very strong earnings picture and demand for the particularly the
[4:44] Speaker 2: memory stock, but everything else in the tech stack as well.
[4:48] Speaker 3: Well.
[4:48] Speaker 1: I'm glad you mentioned the memory chip makers because in
[4:51] Speaker 1: the States, ske Heinez will price its ADRs on Thursday,
[4:56] Speaker 1: and we are being told that this issue is multiple
[4:59] Speaker 1: time times oversubscribed and they're going to essentially market or
[5:04] Speaker 1: sell about one hundred and seventy eight million ADRs valued
[5:07] Speaker 1: in total at around twenty eight billion US. And now
[5:10] Speaker 1: I'm seeing in the price action in Seoul as k
[5:13] Speaker 1: Heinez shares down more than two and a half percent.
[5:16] Speaker 1: So talk to me about the timing here where you're
[5:19] Speaker 1: trying to raise money, presumably so that you can help
[5:22] Speaker 1: build out a little bit more of your capacity for
[5:25] Speaker 1: those high bandwidth memory chips at a time when the
[5:28] Speaker 1: market is a little dubious about the AI trade.
[5:32] Speaker 2: It's either going to work out very well for he
[5:33] Speaker 2: Nix or it's going to be one of those moments
[5:35] Speaker 2: where we sort of get that market top. It's you know,
[5:39] Speaker 2: the same with SpaceX, right, So people are thinking, I
[5:43] Speaker 2: are some of these more radical and very high value
[5:49] Speaker 2: equity sales signaling we're basically near the top of the
[5:53] Speaker 2: market at the top of the cycle, or will be
[5:55] Speaker 2: able to build more confidence. I think for Heynix, you know,
[5:58] Speaker 2: there's some recommendation in the market for people to sell
[6:02] Speaker 2: the Korean stock and buy the ADRs instead, seeing it
[6:05] Speaker 2: as a more straightforward play for international investors. So there
[6:10] Speaker 2: may be a little bit of that kind of churn
[6:12] Speaker 2: and pricing going on at the moment, and it always
[6:15] Speaker 2: creates a bit of an overhang and ties up some cash.
[6:17] Speaker 2: So once that's done, maybe you know, capital flows back
[6:21] Speaker 2: into the broader market as well. What it does mean
[6:24] Speaker 2: for Heniz, which I think is quite interesting, is it's
[6:26] Speaker 2: an opportunity to tap into that really huge demand in
[6:29] Speaker 2: the US for the technology stocks and to bring back
[6:33] Speaker 2: some of that money to build out more production in
[6:38] Speaker 2: South Korea. The risk is the memory chips in particular
[6:43] Speaker 2: is a highly cyclical industry historically, and if they build
[6:47] Speaker 2: out all other capacity, that's very helpful for the next
[6:49] Speaker 2: eighteen months, but then we have a fallow patch again
[6:53] Speaker 2: for demand. They're going to be left with a lot
[6:54] Speaker 2: of excess capacity that they don't really need, and that
[6:57] Speaker 2: would create more simplicity for their equity as well.
[7:00] Speaker 1: So if you're seeing money come out of the semiconductor
[7:02] Speaker 1: stocks today, where is it going. Is there a rotation
[7:05] Speaker 1: that you can identify that's happening across markets in Asia,
[7:08] Speaker 1: whether we're talking about South Korea or even Japan.
[7:13] Speaker 2: Yes, there's that narrative has been in the market recently.
[7:17] Speaker 2: I think if you look at Japan, that's one place
[7:19] Speaker 2: where you can see it, where the Nike, which is
[7:22] Speaker 2: more technology heavy, has been underperforming the topics of late
[7:26] Speaker 2: after the in the first part of the year really
[7:29] Speaker 2: blazing higher. So that's one sign that you can see
[7:33] Speaker 2: where people are putting more money back into what you
[7:36] Speaker 2: might classify as old economy stocks, companies that you know
[7:42] Speaker 2: are not part of this new tech mega trend and
[7:44] Speaker 2: that rebalancing, and they've underperformed despite what prospects they might have.
[7:49] Speaker 2: I think there's some signs that exports from Asia x
[7:56] Speaker 2: tech are also picking up, and so that's giving the
[7:59] Speaker 2: market a little bit more more more hopeful broadening of
[8:01] Speaker 2: the rady or at least a rebalancing back into the
[8:04] Speaker 2: rest of the markets. And I think it's a trend
[8:06] Speaker 2: as well that you're seeing in US markets for that matter,
[8:08] Speaker 2: with SMP holding up relatively well compared to them as
[8:13] Speaker 2: that called the socks.
[8:14] Speaker 1: So in the States next week earning season we'll kick
[8:17] Speaker 1: off and we'll hear initially from some of the big banks,
[8:20] Speaker 1: how do the banking stocks in Asia look at this point.
[8:23] Speaker 1: Some of the financials as well. Are they performing much
[8:26] Speaker 1: better than the tech space.
[8:29] Speaker 2: I wouldn't say for the year to date they are,
[8:33] Speaker 2: But what I would say is that we have steeper
[8:36] Speaker 2: yield curves and higher long term interest rates, which play
[8:40] Speaker 2: in favor of banks. When you look around the region,
[8:43] Speaker 2: it sort of depends. If you look at China, then
[8:45] Speaker 2: demand for loans and loan growth is still extremely low
[8:48] Speaker 2: and interest rates remain subdued, So that isn't necessarily a
[8:53] Speaker 2: great place to see growth in the finance. But some
[8:56] Speaker 2: of the growth markets and Japan, for example, where you
[8:59] Speaker 2: have seen that steepening of the curve, you ought to
[9:01] Speaker 2: be able to see some stronger performance from the financial institutions.
[9:05] Speaker 2: By the way, actually, you know, going back to where
[9:07] Speaker 2: we started, Doug, what we did see. I think one
[9:09] Speaker 2: of the strongest reaction possibly to the latest turbulence in
[9:14] Speaker 2: the Middle East was possibly the treasuries market actually, where
[9:17] Speaker 2: you saw a big jump in yields right across the curve.
[9:20] Speaker 2: The idea being if the war hasn't gone away, and
[9:22] Speaker 2: if oil prices are going to remain relatively elevated, or
[9:26] Speaker 2: that inflation outlook hasn't completely subsided, that that may need
[9:30] Speaker 2: to either retain rates at higher levels for longer, or
[9:32] Speaker 2: even go through with that hike that has been discussed
[9:35] Speaker 2: so much over recent months.
[9:37] Speaker 1: It's very interesting that you bring up oil as it
[9:39] Speaker 1: relates to inflation, one of the big influences on the
[9:42] Speaker 1: treasury market. Mark Cranfield and I were talking in the
[9:45] Speaker 1: last episode of the Daybreak Asia podcast about the inflationary
[9:49] Speaker 1: impact that the shortage and some of these memory chips
[9:54] Speaker 1: it really is creating. Could you kind of echo that?
[9:58] Speaker 1: I mean, is that what you're seeing where you are
[9:59] Speaker 1: in Singapo.
[10:00] Speaker 2: We dub him Crystal Ball Cranfield because he's so good
[10:03] Speaker 2: at seeing which way the market is going. So I
[10:05] Speaker 2: would always differ and listen to Mark. But yes, I
[10:08] Speaker 2: think that chip flation is a real thing, and what
[10:10] Speaker 2: you're seeing its showing up as we've seen in recent weeks.
[10:13] Speaker 2: We've seen it in consumer goods.
[10:14] Speaker 4: Right.
[10:15] Speaker 2: It's not just about the cost of technology, the cost
[10:18] Speaker 2: of using the AI equipment, but it's also about that
[10:25] Speaker 2: competition for those chips, and so where those prices showing up,
[10:28] Speaker 2: they're showing up in They're showing up in Sony and Nintendo,
[10:34] Speaker 2: in Microsoft Xbox, they're showing up in Apple devices, as well,
[10:40] Speaker 2: and so that's actually a real cost that's going to
[10:42] Speaker 2: hit consumers, and you can think about maybe cars would
[10:45] Speaker 2: be someplace where that might start to show up as well,
[10:48] Speaker 2: for example, or other things that are using chips in
[10:51] Speaker 2: the tech stact. So I think that when you consider
[10:56] Speaker 2: what that looks like for overall broad measures of inflation,
[11:00] Speaker 2: and it's only a negligible proportion of the whole picture,
[11:06] Speaker 2: but it is something that people are actually going to
[11:08] Speaker 2: feel really in their pockets, and so it's something to
[11:12] Speaker 2: watch out for for sure.
[11:13] Speaker 1: Okay, Paul, thank you so much. We'll leave it there.
[11:15] Speaker 1: Bloomberg's Paul Dobson. He is executive editor for Asia Markets.
[11:19] Speaker 1: Joining from Singapore here on the Daybreak Asia podcast. Welcome
[11:29] Speaker 1: back to the Daybreak Asia Podcast. I'm Doug Chrisner. As
[11:32] Speaker 1: I mentioned a short while ago, crude oil prices are
[11:34] Speaker 1: higher after the US launched a new series of airstrikes
[11:38] Speaker 1: on Iran. This follows an Iranian attack on three ships
[11:42] Speaker 1: earlier in the day in the Strait of Horror moves.
[11:44] Speaker 1: Now we know that Tehran has said in the past
[11:47] Speaker 1: it will not allow vessels to transit the Strait without
[11:51] Speaker 1: its permission, and that's where we begin our conversation with
[11:54] Speaker 1: Jessica Genauer. Jessica is an associate professor in international relations
[11:59] Speaker 1: at the University of New South Wales, and she spoke
[12:02] Speaker 1: with Bloomberg TV host Paul Allen.
[12:04] Speaker 4: I just want to get a started by asking for
[12:07] Speaker 4: your initial analysis of the events of the past a
[12:10] Speaker 4: couple of hours. Is this a crippling blow to the
[12:13] Speaker 4: ceasefire or just the sort of bump on the road
[12:16] Speaker 4: that you might anticipate.
[12:19] Speaker 3: So it actually could go either way from here, and
[12:24] Speaker 3: we're not sure yet which pathway we're going to go down,
[12:27] Speaker 3: but it's certainly very precarious. So since this MoU came
[12:31] Speaker 3: into effect on the seventeenth of June, we have seen
[12:36] Speaker 3: a lot of tensions ongoing around the Strait of Hormors,
[12:40] Speaker 3: and that's basically because the Iranian regime really wants to
[12:44] Speaker 3: fully control shipping in and out of the Strait of Hormors,
[12:47] Speaker 3: and they would like that shipping to go along a
[12:49] Speaker 3: specific route that really hugs the Iranian coastline so that
[12:54] Speaker 3: they can have control over shipping and then also be
[12:57] Speaker 3: able to charge a kind of a service fee for
[13:00] Speaker 3: ships going in and out of the Strait. Now there's
[13:03] Speaker 3: another route that chips have been taking which hugs the
[13:05] Speaker 3: Amani coast. The Iranian regime objects to that, and that's
[13:09] Speaker 3: where we've seen Iran striking vessels that have been taking
[13:13] Speaker 3: that alternate route that is endorsed by the US. So
[13:17] Speaker 3: what we're actually seeing is that even though we had
[13:20] Speaker 3: this MoU, because the MoU didn't really deal with the
[13:25] Speaker 3: kind of core tensions that were driving this war between
[13:30] Speaker 3: the US and Iran, that we're actually just seeing a
[13:33] Speaker 3: continuation of those tensions being played out in the way
[13:37] Speaker 3: that this contest is continuing around which route ships should
[13:41] Speaker 3: be taking in and out of the Strait of Hormales.
[13:44] Speaker 3: And I think it still remains to be seen. Is
[13:47] Speaker 3: this more or less a sort of one off tit
[13:49] Speaker 3: for tat or are we actually going to see a
[13:51] Speaker 3: little bit of a breaking point with Trump's own sort
[13:54] Speaker 3: of frustrations even though he clearly wants the ceasefire to hold,
[13:58] Speaker 3: but Iran isn't exactly cooperating what he wants. So will
[14:01] Speaker 3: we see again a kind of an escalation on the
[14:05] Speaker 3: US side as this progresses.
[14:09] Speaker 4: In terms of those core tensions you mentioned, each side
[14:12] Speaker 4: does accuse the other of violations you know, the US
[14:15] Speaker 4: of course accusing Iran of attacking ships around unhappy about
[14:19] Speaker 4: the cancelation of those oil waivers. Also Israel's actions in
[14:22] Speaker 4: Lebanon as well. So which side's got the stronger case
[14:26] Speaker 4: or do they both have a strong case.
[14:31] Speaker 3: So they both have different strengths and weaknesses. So probably
[14:34] Speaker 3: Trump's biggest weakness in some ways is his political resolve.
[14:40] Speaker 3: So Trump clearly would like the US to be able
[14:43] Speaker 3: to withdraw now from the war with Iran. He'd like
[14:46] Speaker 3: to move on in terms of the US domestic agenda.
[14:51] Speaker 3: So this means that Trump almost unilaterally withdrew the US
[14:56] Speaker 3: from this war. I mean the US didn't give up
[14:58] Speaker 3: I mean the US gave up a lot in in
[15:00] Speaker 3: terms of that MoU the Iranian regime got a lot
[15:03] Speaker 3: in terms of their demands and really didn't give up anything,
[15:05] Speaker 3: for example, on the nuclear issue. They really didn't make
[15:07] Speaker 3: any commitments around that. So Trump's biggest weakness I think
[15:11] Speaker 3: is the fact that he has very very low political
[15:14] Speaker 3: resolve to stay in this war. But the strength of
[15:17] Speaker 3: the US is always the fact that the US does
[15:20] Speaker 3: have overwhelming military capability if they want to choose to
[15:25] Speaker 3: use it. Now, there's a lot of costs involved in
[15:26] Speaker 3: using it. Trump has already seen that escalating with the
[15:29] Speaker 3: Iranian regime is only going to get so far and
[15:32] Speaker 3: it's probably not going to lead to the outcome that
[15:34] Speaker 3: he wants. But the US still does have that military
[15:37] Speaker 3: capability if they want to bring it back into play.
[15:40] Speaker 3: On the Iranian side, probably their biggest strength is their
[15:43] Speaker 3: very high political resolve. So the Iranian regime absolutely sees
[15:47] Speaker 3: this not only as a fight for their survival, but
[15:51] Speaker 3: it's also a fight for their identity, which in some
[15:54] Speaker 3: ways you know, is just as important for that Iranian regime.
[15:57] Speaker 3: So they're absolutely determined to show that they are strong,
[16:01] Speaker 3: that they're standing up to the US, and that they
[16:03] Speaker 3: will not capitulate to the US in any way, and
[16:06] Speaker 3: they're really willing to bear massive costs in order to
[16:09] Speaker 3: do that. Like we could say, logically, okay, the sanctions
[16:12] Speaker 3: were lifted on Iran, now they should just cooperate with
[16:16] Speaker 3: the US, play nicely, get those oil revenues flowing in
[16:19] Speaker 3: and out. Doesn't really matter which root chips are taking
[16:22] Speaker 3: through the strait of home war was But no, the
[16:24] Speaker 3: Iranian regime are really determined also to look strong and
[16:29] Speaker 3: to look in control in a way that I think
[16:31] Speaker 3: Trump is probably underestimated, and they have a lot of
[16:34] Speaker 3: resolve to double down on that position. So that's probably
[16:37] Speaker 3: the key strength at the moment for the Iranian regime.
[16:42] Speaker 4: We're just hearing on Axios News wise that President Trump
[16:46] Speaker 4: did approve the Iran strike plan today. He ordered that
[16:50] Speaker 4: while in Turkey for the NATO summit as well. There
[16:53] Speaker 4: is also the question of Iran's nuclear program. What are
[16:57] Speaker 4: the challenges and the technical issues around getting that and
[17:00] Speaker 4: does that help explain some of the political motivations of
[17:03] Speaker 4: the Iranian regime just to keep on grinding this out
[17:07] Speaker 4: an exact monetary and political costs from the US.
[17:12] Speaker 3: So, I think interestingly on the nuclear issue, as I
[17:17] Speaker 3: mentioned earlier, so as part of this MoU the Iranian
[17:20] Speaker 3: regime really didn't have to commit anything on the nuclear issue.
[17:24] Speaker 3: All as they committed was to keep talking to the
[17:27] Speaker 3: US and to try to get some kind of agreement
[17:29] Speaker 3: within sixty days. Now it was relatively obvious that it's
[17:35] Speaker 3: very unlikely that within sixty days the US and Iran
[17:38] Speaker 3: are going to manage to reach any kind of agreement
[17:41] Speaker 3: on the nuclear issue. Where they're sitting really far apart,
[17:44] Speaker 3: So we could say, okay, is this Iran trying to
[17:47] Speaker 3: play for time and in some ways trying to undermine
[17:51] Speaker 3: or spoil that agreement so that they never have to
[17:54] Speaker 3: reach sort of, you know, a compromise or to give
[17:57] Speaker 3: anything up on the nuclear issue. But I don't think
[18:00] Speaker 3: that that's probably front of mind for the Iranians because
[18:03] Speaker 3: they've really got so much in that MoU without committing
[18:06] Speaker 3: anything on the nuclear point. So I think that they
[18:09] Speaker 3: would take that as a sign that, you know, within
[18:12] Speaker 3: sixty days, they could easily not reach agreement on anything
[18:16] Speaker 3: to do with the nuclear issue, and basically the US
[18:18] Speaker 3: would be willing to keep negotiating. So I think more
[18:23] Speaker 3: the key issue for the Iranian regime here is that
[18:25] Speaker 3: they absolutely do want to control shipping in and out
[18:28] Speaker 3: of the Strait of Humus. They do want to be
[18:30] Speaker 3: able to charge a service fee. They don't want the
[18:32] Speaker 3: US anywhere near the Strait of Humors or setting up
[18:35] Speaker 3: sort of an alternative shipping route for cargo going in
[18:38] Speaker 3: and out. And I think for the Iranian regime this
[18:41] Speaker 3: is more about also leaders domestically within Iran, because as
[18:46] Speaker 3: a result of this war, the regime has shifted. You
[18:49] Speaker 3: know even further to the kind of ideological hard right camp.
[18:54] Speaker 3: This is also about players within Iran, leaders within Iran
[18:57] Speaker 3: wanting to show their credentials of how they are able
[19:01] Speaker 3: to stand up to the US, to push back against
[19:04] Speaker 3: the US and to make sure the US completely leaves
[19:06] Speaker 3: the Straight of Hormors and has nothing to do with
[19:09] Speaker 3: Iran in future. So there's kind of a domestic play
[19:12] Speaker 3: going on there which is probably less about nuclear more
[19:15] Speaker 3: about showing that they can really get that full control
[19:19] Speaker 3: over Straight of Haumors, and again remains to be seen.
[19:22] Speaker 3: It will really depend on what Trump decides to do
[19:24] Speaker 3: and whether he decides to double down on military action
[19:28] Speaker 3: and going back in in a bigger sort of military
[19:31] Speaker 3: way for the US, whether or not that will kind
[19:34] Speaker 3: of succeed for Iran.
[19:35] Speaker 1: That was Jessica Genauer, Associate Professor of International Relations at
[19:39] Speaker 1: the University of New South Wales, speaking with Bloomberg TV
[19:43] Speaker 1: host Paul Allen, bringing you their conversation here on the
[19:46] Speaker 1: Daybreak Asia podcast. Thanks for listening to today's episode of
[19:53] Speaker 1: the Bloomberg Daybreak Asia Edition podcast. Each weekday, we look
[19:57] Speaker 1: at the story shaping markets, finance, and politics in the
[20:01] Speaker 1: Asia Pacific. You can find us on Apple, Spotify, the
[20:04] Speaker 1: Bloomberg Podcast YouTube channel, or anywhere else you listen. Join
[20:08] Speaker 1: us again tomorrow for insight on the market moves from
[20:11] Speaker 1: Hong Kong to Singapore and Australia. I'm Doug Prisoner and
[20:16] Speaker 1: this is Bloomberg.

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