Speaking to Fox News, Bessent stated that during the World Bank Spring Meetings last month, multiple nations, including what he referred to as some of the poorest and most vulnerable countries, appealed to him to restore commercial shipping through the strategically vital waterway. He emphasized that the crisis extended beyond energy flows, encompassing fertiliser, food transport, and liquefied petroleum gas essential for daily household use in India.
Bessent characterized the initiative as a humanitarian operation, asserting that the United States was acting to reopen global maritime navigation disrupted in the region.
He further escalated his criticism of Iran, claiming that the country’s military capacity had significantly deteriorated. According to him, Tehran’s defensive narrative was propaganda, while its leadership was reportedly confined to bunkers with limited awareness of unfolding developments. He alleged that Iran’s navy was no longer functioning as a conventional force and described it instead as “a band of pirates” attempting to obstruct international freedom of navigation through the Strait of Hormuz.
The Treasury Secretary also stated that Iran’s economy was in a state of severe decline, adding that its military personnel were facing financial instability and would struggle to remain operational without consistent payments.
Turning to China, Bessent accused Beijing of indirectly supporting Iran by purchasing a significant portion of its energy exports, claiming that China accounted for approximately 90 percent of Iran’s oil sales. He urged Beijing to adopt a constructive diplomatic role ahead of the expected meeting between US President Donald Trump and Chinese President Xi Jinping, calling for cooperation to restore maritime stability and reopen the strait.
Addressing the broader energy implications, Bessent acknowledged an estimated shortfall of up to 10 million barrels per day due to the disruption in the Strait of Hormuz. However, he expressed confidence in market stabilization, citing expected crude movements through the waterway, increased production from the United Arab Emirates and other OPEC members, and record-level output from the United States.
He also reiterated that the United States was actively working to restore maritime access, while alleging that Iran’s naval activity had contributed to the closure of the strategic passage. He further claimed that Washington had imposed a sea blockade on Iranian ports, while diplomatic discussions aimed at a long-term resolution remained stalled.
The statement comes amid heightened regional tensions, with the United Arab Emirates, a key US ally, reporting an attack attributed to Iran, which resulted in injuries to three Indian nationals and marked a significant escalation following a recent ceasefire.
The developments underscore growing geopolitical friction in the Gulf region, where control over maritime routes such as the Strait of Hormuz continues to hold critical importance for global energy security and international trade stability.
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