Washington, Aug. 5: The United States expects to reach an agreement with Iran as early as Wednesday to reopen the strategically important Strait of Hormuz, according to US Treasury Secretary Scott Bessent.
In an interview with CNBC, Bessent said Washington is in active discussions with Tehran and expressed optimism that a deal could soon be finalized to restore free passage through the waterway and ease regional tensions.
“We are talking with the Iranians. I think there is an opportunity to reach an agreement today or tomorrow that would reopen the strait and move this conflict toward a more normal situation,” Bessent said.
Asked whether Iran would be allowed to impose tolls under the proposed agreement, Bessent said the arrangement would ensure unrestricted navigation through the Strait of Hormuz. He noted that although conditions had been risky in recent days, some vessels had already begun transiting the passage.
The treasury secretary said reopening the strait would likely have a positive impact on global energy markets, adding that hundreds of ships are currently waiting to pass through the strategic maritime route.
Bessent also expressed confidence that oil and energy prices would decline as shipping traffic resumes, benefiting economies around the world.
Meanwhile, US Secretary of State Marco Rubio said negotiations with Iran had made progress but stressed that no final agreement had yet been reached.
Speaking to reporters at the State Department, Rubio said discussions aimed at increasing maritime traffic through the Strait of Hormuz were advancing, and Washington hoped to conclude the talks soon.
The Strait of Hormuz is one of the world’s most critical energy transit routes, carrying a significant share of global oil and liquefied natural gas exports. Any disruption to shipping in the waterway has immediate implications for international energy markets and global trade.
