Bessent Says Strait of Hormuz Could Become Irrelevant Within Two Years

US Treasury Secretary Scott Bessent says the Strait of Hormuz could lose much of its strategic importance within two years as more oil and gas shipments are redirected through underground pipelines. He argued that Iran’s attempts to use the waterway as a choke point would accelerate efforts to find alternative export routes. Bessent estimated that 50% to 70% of the energy currently moved through the Strait could eventually be transported by pipeline. The post also claims that a US naval blockade has turned away 55 ships from Iran this August, while an Iranian senior minister has asked President Donald Trump to lift the blockade. These claims require independent confirmation.

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