Scott Bessent said the strait will never return to its former state after Iran's attempts to use it as a choke point, and predicted that 50-70% of energy traffic will shift to underground pipelines.
US Treasury Secretary Scott Bessent made the remarks on Friday, stating that the Strait of Hormuz will become irrelevant within two years as a major energy chokepoint. He noted that Iran's attempts to use the strait as a choke point have prompted a shift toward underground pipelines. Bessent estimated that 50% to 70% of the energy currently passing through the strait will be rerouted. The statement, reported by Abu Ali Express, reflects a significant geopolitical and economic development that could reduce Iran's strategic leverage over global energy markets.
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