Published Sep 1, 2026, 9:52 AM ET · Updated 2 months ago · 2 sources
Bessent Says Hormuz Will Soon Be ‘Worthless’ as Oil Bypasses It
bloomberg
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Original Report
Treasury Secretary Scott Bessent dismissed the importance of the Strait of Hormuz on Tuesday, saying the crucial waterway for Persian Gulf energy that’s been controlled by Iran during the recent conflict will soon be bypassed with oil pipelines.