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News Topical, Digital Desk : Amid the ongoing war with Iran, US Treasury Secretary Scott Bessant made a significant revelation in an exclusive interview with Sky News. Bessant stated that the US Navy, in conjunction with an international coalition, will escort oil tankers safely through the Strait of Hormuz as soon as militarily possible.
Strait of Hormuz major trade route
Approximately 20 percent of the world's oil supply passes through the Strait of Hormuz . Iran's continued attacks on shipping and energy sources in the Persian Gulf have pushed oil prices above $100 per barrel. Global markets have declined even as developed countries have announced the release of 400 million barrels from their strategic reserves, half of which is held by the United States.
US Navy will escort the ships
"I believe the US Navy, perhaps in conjunction with an international coalition, will escort the ships as soon as it's militarily possible," Bessant told Sky News. He added that even in the current situation, some tankers are passing through, including Iranian tankers and some Chinese-flagged tankers, suggesting that mines have not yet been laid in the strait.
Earlier on Thursday, Iran's new Supreme Leader, Mojtaba Khamenei, said the Strait of Hormuz would be used as a "weapon of pressure" against the US and Israel. He also called for "avenging the martyrs."
How much has the war cost so far?
Bessant stated that the war has cost the United States approximately $11 billion so far. During the interview, Bessant received a call from President Trump in the White House Situation Room, forcing a two-hour pause. When the interview resumed, the journalist asked him about the escort, to which he did not respond.
This move could be crucial for global energy security, but would also increase the risk of a direct confrontation with Iran. Markets are currently holding out hope for safe passage, but Bessant's statement suggests a safe evacuation could be imminent.
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