WATCH: Secretary Bessent – Strait of Hormuz will become ‘worthless’ waterway

US Treasury Secretary Scott Bessent said that while fears regarding the Strait of Hormuz are understandable in the current situation, in the coming years it will be considered a worthless waterway as oil will move over land.

Sec. Bessent: “We can see the Iranians are trying to use the Strait of Hormuz as a chokepoint… That will be bypassed in two years… Under President Trumps’ direction there are a group of us in the administration that are securing all these critical nodes in the supply chain.” pic.twitter.com/NCwwMpFQDy

— Breaking911 (@Breaking911) September 1, 2026

IranScott BessentStrait of Hormuz