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Tuesday, September 1, 2026 · UTC
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US Treasury Official Predicts Strait of Hormuz Bypass in Two Years

Scott Bessent predicts the Strait of Hormuz will become obsolete within two years due to new US sanctions on Iran.

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Stands on 5 placed sources from 2 publishers.
As of 2026-09-01 16:01 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.
Scott Bessent predicted that within two years, oil will be transported via land pipelines, making the Strait of Hormuz worthless. [1] US Treasury Secretary Scott Bessent defended the sanctions push as the US and Iran exchanged strikes. [2] Scott Bessent claimed that Iran has suffered significant military losses and is in a difficult economic position. [3] Scott Bessent spoke at a G20 Finance Ministers meeting held in Asheville, North Carolina, under US hosting. [4] Scott Bessent stated that the US plans to announce sanctions against a bank this week and another bank next week. [5]
What this stands on
  1. Scott Bessent predicted that within two years, oil will be transported via land pipelines, making the Strait of Hormuz worthless. · Ekonomim
  2. US Treasury Secretary Scott Bessent defended the sanctions push as the US and Iran exchanged strikes. · AL-MONITOR: The Middle Eastʼs leading independent news source since 2012
  3. Scott Bessent claimed that Iran has suffered significant military losses and is in a difficult economic position. · Ekonomim
  4. Scott Bessent spoke at a G20 Finance Ministers meeting held in Asheville, North Carolina, under US hosting. · Ekonomim
  5. Scott Bessent stated that the US plans to announce sanctions against a bank this week and another bank next week. · Ekonomim
We could not place any of them by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.
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