Bessent: Hormuz leverage over Iran fading as pipelines rise

Treasury Secretary Scott Bessent said the Strait of Hormuz will become “worthless” as a chokepoint for Iran's regime to exploit within two years, citing the rapid buildout of overland oil pipelines bypassing the strait. Bessent's comments suggest that Tehran's ability to threaten global energy markets by menacing the vital waterway is set to diminish sharply as alternative routes come online. The Strait of Hormuz, through which a significant share of the world's oil supply passes, has long been viewed as a key pressure point Iran could use to retaliate against Western sanctions or military action. Bessent's remarks, posted on X, reflect the Trump administration's broader push to reduce Iran's economic and strategic leverage amid ongoing tensions over its nuclear and regional ambitions.