Bessent: US-Iran Talks Could Open Strait of Hormuz by Wednesday
Treasury Secretary Bessent says a deal ensuring 'freedom of movement' through the Strait of Hormuz may be reached as soon as Tuesday or Wednesday.
Treasury Secretary Scott Bessent signaled Tuesday that the United States is actively negotiating with Iran and could reach an agreement within days to reopen the Strait of Hormuz to free maritime passage, telling CNBC's 'Squawk Box' that a deal may materialize as soon as Tuesday or Wednesday.
Bessent's comments mark one of the most concrete public acknowledgments of direct US-Iran engagement in recent memory, with the Treasury chief using the phrase 'freedom of movement' to describe the goal — language that carries significant weight in international maritime law and global energy markets.
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The Strait of Hormuz is one of the world's most strategically critical chokepoints, through which a substantial share of global oil and liquefied natural gas shipments transit daily. Any disruption — or credible threat of disruption — to passage through the strait has historically triggered sharp moves in crude oil prices and rattled energy-dependent economies worldwide.
While Bessent offered no details on the structure or conditions of a potential agreement, the fact that the Treasury Department is leading or participating in these negotiations suggests the talks have a significant economic and sanctions-related dimension alongside their geopolitical implications. Analysts will be watching closely for any signal that sanctions relief could be part of a broader package.
The compressed timeline Bessent floated — Tuesday or Wednesday — underscores the urgency both sides may feel, though diplomatic deals of this complexity frequently slip past initial target dates. Markets and energy traders are likely to react sharply to any confirmation or denial of progress in the hours ahead. Continue reading at US Top News and Analysis.
