https://www.live-feeds.com/feed/iran-us-war-latest-trump-official-says-hormuz-will-soon-be-a-worthless-piece-of-water-and-threatens-new-sanctionsContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/iran-us-war-latest-trump-official-says-hormuz-will-soon-be-a-worthless-piece-of-water-and-threatens-new-sanctionshttps://www.live-feeds.com/feed/iran-us-war-latest-trump-official-says-hormuz-will-soon-be-a-worthless-piece-of-water-and-threatens-new-sanctions#u54608Wed, 02 Sep 2026 08:36:06 +0000US 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 mattersThe Strait of Hormuz is a critical chokepoint for global oil suppl