US Treasury Secretary Scott Bessent stated that the Strait of Hormuz will be 'avoided' within two years, a development that carries significant implications for global energy trade and shipping routes.

Statement and its significance

The Strait of Hormuz is one of the world's most critical maritime chokepoints, through which a substantial share of global oil and liquefied natural gas shipments pass. The US official's assertion that the strait will be 'avoided' within a two-year timeframe marks a notable policy or strategic signal regarding energy transit routes.

Bessent made the remarks while speaking with Fox Business’ Larry Kudlow at the Group of 20 finance ministers’ meetings in Asheville, North Carolina. He identified the official as Treasury Secretary Scott Bessent, specifying his institutional affiliation which was previously absent.

Bessent said Iran was attempting to use the strait as an energy choke point. "It’s not a choke point for the U.S., but it is a choke point for many, many other countries," he said.

He added, "In two years, the Strait of Hormuz will be like a worthless piece of water. The oil will be going on pipelines across land."

Bessent also pointed to growing international backing for Washington’s economic pressure campaign against Tehran. "We have zero tolerance," he told Kudlow. "We are going to economically asphyxiate this regime."

Context around the Hormuz strait

The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and serves as a key passage for energy exports from major oil-producing nations. Any shift in shipping patterns away from this route would represent a consequential change in global energy logistics.

President Donald Trump reportedly approved a "tanker for tanker" policy against Iran, with U.S. forces striking two Iranian government tankers amid escalating tensions. U.S. officials said about 100 targets were hit Tuesday, while roughly 40 ships transited the Strait of Hormuz under U.S. military guidance.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei condemned the attacks, claiming a U.S. strike on a wedding gathering in Kuhestak killed four people, including a child, and injured 53 others. He accused Washington and countries that remained silent of normalizing alleged unlawful attacks and warned that Iran would respond firmly.

Last week, Iran urged countries to resist U.S. sanctions, while Foreign Minister Abbas Araghchi said diplomacy remained possible if Washington eased pressure. Tehran also linked wider access through the Strait of Hormuz to progress on regional conflicts.

Trump had rejected immediate talks, saying, "We don’t want to speak to them."

Iranian security chief Mohsen Rezaee warned that continued economic pressure could halt oil exports, saying "not a single drop of oil will be exported" through the Strait of Hormuz or Persian Gulf. He also said countries supporting the U.S. campaign would be considered to have committed "an act of war."

Two oil supertankers were struck by unknown projectiles in quick succession while transiting the Strait of Hormuz, according to maritime security firm Marisks.

Incident in a critical shipping lane

The attacks occurred in the Persian Gulf's Strait of Hormuz chokepoint. Bloomberg reported the incident based on data from Marisks. The Strait serves as a vital chokepoint for global oil trade, with a substantial share of seaborne crude oil and petroleum products passing through it.

Details of the attack

Both vessels were struck while navigating the region. The source data does not specify the identity of the tankers, the origin of the projectiles, the extent of damage sustained, or any casualties. No further operational or technical details are available from the provided information.

Significance for energy markets

The Strait of Hormuz is a critical transit route for global oil supply. Incidents involving tankers in this region have historically drawn attention from energy markets, shipping companies, and governments with interests in uninterrupted oil flows. The current incident involving two supertankers simultaneously amplifies the scale of concern around maritime security in the area.