Archive · 1 Sep 2026
Bessent Says Strait of Hormuz Could Become Worthless
Scott Bessent is the U.S. Treasury secretary.
He spoke at a meeting of finance ministers in North Carolina.
He discussed the Strait of Hormuz, an important waterway.
Bessent said it is not a choke point for the United States.
He said it is still a choke point for many other countries.
He predicted that the waterway could become worthless in two years.
The report does not explain exactly how that might happen.
His comments suggest that the waterway matters differently to the United States and to other countries.
U.S. Treasury Secretary Scott Bessent said the Strait of Hormuz could become "worthless" in two years.
Bessent made the remarks at a G20 finance ministers' meeting in North Carolina.
He said the waterway is not a choke point for the United States.
Bessent said the Strait of Hormuz remains critical for many other countries.
He did not provide further details explaining how the waterway could lose its importance.
- Who
- U.S. Treasury Secretary Scott Bessent.
- What
- He said the Strait of Hormuz could become "worthless" in two years.
- When
- The remarks were made at the reported meeting; the date was not specified.
- Where
- At a G20 finance ministers' meeting in North Carolina.
- Why
- Bessent said the waterway is not a choke point for the United States, though it remains critical for many other countries.
- Speaker
- Scott Bessent, U.S. Treasury secretary
- Waterway
- Strait of Hormuz
- Forecast
- Could become "worthless" in two years
- U.S. assessment
- Bessent said it is not a choke point for the United States
- International importance
- Bessent said it remains critical for many other countries
- Setting
- G20 finance ministers' meeting in North Carolina