Live Feeds
● TRACKER Updated 14d ago · 8 sources tracked

Iran-US war latest: Trump official says Hormuz will soon be a ‘worthless piece of water’ and threatens new sanctions

US Treasury Secretary Scott Bessent claims the Strait of Hormuz will become a worthless piece of water within two years as oil bypasses the waterway. This projection comes amid an exchange of strikes between the US and Iran, with Donald Trump vowing to hit Iran hard. The US is threatening new sanctions against Iran within the next fortnight, including potential bank sanctions this week. Meanwhile, the conflict is driving billions in new investments into Gulf ports and oil pipelines to reduce reliance on the strait.

🎙️

Listen to Live Briefing

Real-time synthesized voice briefing · Live Feeds Desk

⏱ ~3 min
Speed:
RSS Source map (9)
⚡ Key Developments & Real-Time Context
Text size:
  • ✓ US Treasury Secretary Scott Bessent stated the Strait of Hormuz could become worthless in two years.
  • ✓ The conflict between the US and Iran has triggered billions in new investments for oil pipelines and ports in the Gulf.
  • ✓ Donald Trump vowed to hit Iran hard following an exchange of strikes between the two nations.
🛡️ Source Corroboration: 8 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Treasury Secretary Scott Bessent provided a two-year timeline for the Strait of Hormuz to lose its strategic value.

Live updates

  1. US Treasury Secretary Bessent predicts Strait of Hormuz will be worthless in two years

    US Treasury Secretary Scott Bessent claims the Strait of Hormuz will become a worthless piece of water within two years as oil bypasses the waterway. This projection comes amid an exchange of strikes between the US and Iran, with Donald Trump vowing to hit Iran hard. The US is threatening new sanctions against Iran within the next fortnight, including potential bank sanctions this week. Meanwhile, the conflict is driving billions in new investments into Gulf ports and oil pipelines to reduce reliance on the strait.

    Why it matters

    The Strait of Hormuz is a critical chokepoint for global oil supplies. Efforts to build alternative infrastructure aim to mitigate the economic risk of a blockade or conflict in the region.

    What is confirmed

    • US Treasury Secretary Scott Bessent stated the Strait of Hormuz could become worthless in two years.
    • The conflict between the US and Iran has triggered billions in new investments for oil pipelines and ports in the Gulf.
    • Donald Trump vowed to hit Iran hard following an exchange of strikes between the two nations.

    Still unconfirmed

    • The US may impose fresh sanctions on Iran within the next two weeks.

    What to watch next

    • Implementation of bank sanctions against Iran this week
    • Official announcements regarding new Gulf pipeline projects
    • Further military strikes between US and Iranian forces
    Sources used for this update (8)
    1. Reuters — Pipelines and ports: Iran war spurs Gulf infrastructure investment
    2. Crude Oil Prices Today | OilPrice.com — Iran War Triggers Billions in New Oil Pipeline and Port Investment
    3. Atlantic Council — The Iran war is no Vietnam. But it may become an economic quagmire for the Gulf.
    4. The Independent — Iran-US live: Trump vows to ‘hit Iran hard’ after two sides exchange fresh strikes
    5. Bloomberg.com — Bessent Says Hormuz Will Be ‘Worthless’ as Oil Bypasses It
    6. The Independent — US threatens to hit Iran with fresh sanctions in coming fortnight
    7. Stocktwits — Scott Bessent Says Iran Bank Sanctions Could Come This Week, Strait Of Hormuz Will Be ‘Worthless’ In 2 Years
    8. Livemint — US Treasury Secretary Bessent says Strait of Hormuz could become ‘worthless’ in two years
    confidence 90%
📊

Community Sentiment: How do you assess this situation?

Voice your perspective · Real-time aggregated sentiment from the Live Feeds community