United States hopes Strait of Hormuz traffic recovers gradually

Washington — The United States hopes that traffic through the Strait of Hormuz can recover gradually and believes that this process has already begun, said US Treasury Secretary Scott Bessent on Monday.

“We are seeing more and more fuel tankers beginning to pass through. Iranian ships have already started to go out and we are allowing that to happen to supply the world. We have already seen Indian ships leaving. So, it should start to increase before there is a fleet or protective fleet in the Gulf. So, we believe there will be a natural opening (of the Strait of Hormuz) that is allowed by Iran,” Bessent told CNBC.

According to him, Washington is satisfied with the development of the situation in the Strait of Hormuz at present.

Shipping through the Strait of Hormuz came to a near standstill after the United States and Israel launched attacks on Iran on 28 February, causing damage and civilian casualties. Iran subsequently retaliated by attacking Israeli territory and American military bases in the Middle East.

The Strait of Hormuz is the main shipping route for oil and liquefied natural gas from Persian Gulf countries to global markets, accounting for approximately 20 per cent of global oil, petroleum products, and liquefied natural gas trade.