Treasury Chief Bessent Admits U.S. Let Iranian Oil Tankers Cross Hormuz
U.S. Treasury Secretary Scott Bessent confirmed that Iranian oil tankers are currently being allowed to pass through the Strait of Hormuz, a key global energy chokepoint at the center of the ongoing Iran war.
The remarks come as the Trump administration faces mounting pressure over rising energy costs and the broader economic fallout from disruptions to global oil shipping.
Speaking in a CNBC interview, Bessent said Iranian vessels had already resumed moving through the strait and that the U.S. has allowed those shipments to continue to help maintain global supply.
Reuters reported that the decision reflects concerns about keeping fuel markets stable as the conflict threatens one of the most important oil transit routes in the world.
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The Strait of Hormuz normally handles roughly 20 percent of global oil shipments, and attacks on vessels and regional military escalation have already disrupted traffic and pushed oil prices above $100 per barrel during the crisis.
“We’ve let that happen to supply the rest of the world,” Bessent said during the interview.
The policy highlights a difficult balance for U.S. officials managing the conflict while also trying to prevent energy shocks that could ripple through global inflation and gasoline prices.
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At the same time, the Trump administration is urging allies and major oil-consuming nations to help secure the strait, with discussions underway about a multinational effort to escort commercial tankers through the region.
Analysts say the outcome of that effort could determine whether energy markets stabilize or face further volatility if shipping disruptions continue.
For now, shipping through the strait appears to be slowly resuming, but the broader conflict in the Middle East and the safety of the waterway remain unresolved.
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