US Treasury Secretary: Possibility of reaching an agreement today or tomorrow to open the Strait of Hormuz

Washington, Aug 4 (KUNA) -- U.S. Treasury Secretary Scott Bessent said that the United States and Iran could reach an agreement today, Tuesday, or tomorrow to reopen the Strait of Hormuz, ensuring freedom of navigation for commercial vessels. In an interview with the U.S. news network CNBC, Bessent added, “We are holding talks with the Iranians, and there is a possibility of reaching an agreement today or tomorrow to open the strait and move toward a more normal situation.” He noted that prices “are expected to fall further once hundreds of ships stranded in the Arabian Gulf are able to exit (the strait),” emphasizing that the issue is not limited to energy but also includes fertilizers, refined products, and various industrial gases.

U.S. crude oil futures fell by about three percent following the U.S. Treasury Secretary’s remarks, trading below $78 per barrel.

Bessent’s comments came a day after U.S. President Donald Trump affirmed that the United States would never allow Iran to impose fees on ships passing through the Strait of Hormuz, and that this matter is not on the agenda of the ongoing discussions between Washington and Tehran, particularly since the United States exercises full control over the strait, according to his statement.

These remarks followed Trump’s announcement last Saturday halting planned U.S. strikes against Iran to pave the way for resuming talks, and his declaration the following day (Sunday) of a new round of negotiations between the two countries.

The United States and Iran had signed a memorandum of understanding on June 17 to reopen the strait, and ship traffic through the strait briefly recovered before Iran launched attacks on oil tankers transiting the Strait of Hormuz off the Omani coast, under U.S. military protection. (End) R.S.R. / N.S.A.