Bessent: The Strait of Hormuz will achieve "alternative shipping routes" within two years, and the US will continue to step up sanctions on Iran.
2026.09.01 22:10:07
U.S. Treasury Secretary Scott Bessent noted during a fireside chat at the G20 summit that the U.S. energy sector’s “3-3-3” plan targets crude oil equivalent. Since Trump took office, U.S. daily oil production has risen by 1.6 million to 2.2 million barrels, he added, emphasizing that risks must be mitigated. Bessent also said bypassing the Strait of Hormuz will be achievable within two years, at which point the strait will become “worthless waters” as oil will be transported via onshore pipelines instead of through the strait. When discussing the Iran issue, he pointed out that 85% to 90% of Iranian factories have reconstruction capacity, and Iran may hold the world’s third-largest energy resources. Additionally, the U.S. may announce bank sanctions this week and next, having secured strong support from the European Union, European Central Bank, the U.K., the U.A.E., and Bahrain. The U.S. has adopted a zero-tolerance stance toward Iran, aiming to strangle its economic development, and will also focus on Iran-related aircraft leasing firms. Bessent stated: “We are aware of Iran-related accounts in the British Virgin Islands. Funds stolen from the Iranian people can be returned to them, or Iranian funds can be used to assist terrorism victims.” (Jinshi)
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