Netanyahu: Hormuz Strait to lose strategic value

Israeli Prime Minister Benjamin Netanyahu stated on Wednesday that he anticipates the Strait of Hormuz will lose its strategic importance after the current conflict concludes. Speaking to ABC News Live Prime, Netanyahu predicted that new oil pipelines would be rerouted to bypass the waterway, which currently handles approximately one-fifth of the world's oil supply. He acknowledged that Iran might attempt to block the strait, stating, "I thought they could do it, but I thought they'd also have to consider what would be the consequences if they do it." Netanyahu believes that this shift in energy infrastructure, potentially moving pipelines to the Red Sea, through Israel, and to the Mediterranean, would diminish Iran's leverage over global oil supplies. He concluded, "We can unblock this choke point, and we will."