Treasury Secretary Scott Bessent said Monday that the United States has absolute control of the Strait of Hormuz and appealed to China to join international efforts to reopen the strategic waterway.
Speaking on Fox News, Bessent said U.S. forces are in the process of opening the Hormuz Strait and urged Iran to allow more than 300 vessels to leave with American help. He asserted that Iranians do not hold control of the strait.
The secretary urged partners around the world to apply pressure on Tehran, singling out China as a nation he wants to see participate in the operation. Bessent noted that China has been purchasing 90% of Iranian energy and suggested that the upcoming summit next week provides an opportunity for President Trump and President Xi to exchange views. He emphasized that U.S. officials aim to keep the bilateral relationship stable.
Bessent framed the current global energy situation as acute, saying the world faces an 8 million to 10 million barrel per day oil deficit. He added that each carrier transiting the Strait of Hormuz typically carries about 2 million barrels. At the same time, he described the Iranian economy as being in freefall.
On the operation known as Project Freedom, Bessent said it was not undertaken in coordination with Iran. He stressed that the United States does not see itself as the provocateur but also signaled a readiness to escalate should Iran choose that path. He added that U.S. military personnel will fire only if they are fired upon.
The Treasury Secretary reiterated his expectation that oil prices will decline once the present hostilities subside, calling the current disruption a temporary aberration that he anticipates will end in weeks or months.
Summary of events:
- The U.S. says it controls the Strait of Hormuz and is facilitating the exit of more than 300 vessels.
- Washington has called on China to participate in reopening the waterway; China reportedly buys 90% of Iranian energy.
- U.S. officials indicate a willingness to escalate if Iran acts aggressively, while stating U.S. forces will fire only if fired upon.