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ANALYSIS

From Hormuz to Moscow, the limits of 'Trumpian' strategy driven by oil prices

With the Nov. 3 elections approaching, this issue is pushing Washington to make major strategic concessions.

From Hormuz to Moscow, the limits of 'Trumpian' strategy driven by oil prices

U.S. President Donald Trump at the Institute of Peace in Washington, Oct. 8, 2026. (Credit: Kent Nishimura/AFP)

Three weeks before the Nov. 3 midterm elections, U.S. President Donald Trump’s foreign policy is increasingly dictated by the need to lower fuel prices. Negotiations with Iran over the Strait of Hormuz, threats against the Houthis, the easing of sanctions on Russian diesel and pressure on Ukraine to stop striking Russian refineries are all part of the same strategy: to restore global energy supplies before economic discontent costs Republicans their majority in Congress. Meanwhile... Container ship sinks near Hormuz after being hit by projectile, sources say Rising prices have become one of the U.S. president’s main vulnerabilities. U.S. diesel prices have reached record levels, while gasoline prices have surged since the beginning of the war with Iran. Trump’s current tactic is to use every available tool to minimize the impact on...
Three weeks before the Nov. 3 midterm elections, U.S. President Donald Trump’s foreign policy is increasingly dictated by the need to lower fuel prices. Negotiations with Iran over the Strait of Hormuz, threats against the Houthis, the easing of sanctions on Russian diesel and pressure on Ukraine to stop striking Russian refineries are all part of the same strategy: to restore global energy supplies before economic discontent costs Republicans their majority in Congress. Meanwhile... Container ship sinks near Hormuz after being hit by projectile, sources say Rising prices have become one of the U.S. president’s main vulnerabilities. U.S. diesel prices have reached record levels, while gasoline prices have surged since the beginning of the war with Iran. Trump’s current tactic is to use every available tool to minimize the...
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