Washington: The US is allowing Iranian oil tankers to transit the Strait of Hormuz to maintain global oil supplies, Treasury Secretary Scott Bessent announced in a statement on Monday. Bessent confirmed that Iranian ships have been making successful crossings, with tankers supplying India already passing through the strait. Meanwhile, some Chinese vessels are also believed to be navigating the critical waterway.
According to Anadolu Agency, Bessent noted that the administration anticipates an increase in tanker traffic through the strait before the US Navy and allied forces commence escort operations for commercial ships. "For now, we are fine with that. We want the world to be well supplied," he stated, predicting that oil prices would decline significantly once the conflict concludes, though he did not provide a timeline for this outcome.
White House spokesperson Karoline Leavitt highlighted US President Donald Trump's calls for European and Gulf countries to amplify efforts in reopening the strait. In an interview with Fox News, Leavitt emphasized the importance of NATO allies in addressing the situation, noting Trump's disappointment with the UK's response time to his calls for assistance.
The US-Israeli strikes on Iran, which began on February 28, have reportedly resulted in around 1,200 casualties, including former Supreme Leader Ali Khamenei. Since early March, the Strait of Hormuz has been effectively closed to regular commercial shipping due to Iranian retaliatory measures. This closure has led to significant disruptions, with approximately 20 million barrels of oil passing through the strait daily. The resulting increase in global oil prices has raised concerns about energy and food supply stability.
US Transportation Secretary Sean Duffy indicated that a federal insurance plan for vessels transiting the strait is prepared, with naval escorts pending a military assessment by Joint Chiefs Chairman Gen. Dan Caine. President Trump has asserted that countries benefiting from the strait must participate in efforts to keep it open, warning of potential negative implications for NATO's future if there is an inadequate response.
Iranian Foreign Minister Abbas Araghchi dismissed claims of Iran closing the strait, attributing the current insecurity to US aggression. He stated that Iran has provided safe passage to ships from select countries upon request, countering allegations of intentional closures by Tehran.