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US Treasury Secretary Bessent says Strait of Hormuz could become ‘worthless’ in two years
Bessent's comments came amid renewed tensions between the United States and Iran, with the two sides exchanging strikes on Monday.
GlobeSignal-AImedium certainty
- Why it matters
- The Strait of Hormuz is a critical global oil chokepoint; its reduced value would reshape energy markets and costs for importing nations.
- Most affected
- Oil importers and energy-dependent economies — Face potential disruption to shipping routes and energy supply access.
- Likely next
- Whether US-Iran military exchanges continue or a diplomatic resolution emerges.
Also reported by: The National
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