U.S. Treasury Secretary Claims Control Over Strait of Hormuz Amid Oil Supply Concerns
U.S. Treasury Secretary Scott Bessent asserted that the U.S. has 'absolute control' over the Strait of Hormuz, a critical oil shipping route, and urged allies to support the 'Project Freedom' operation. He estimated a daily oil supply shortfall of 8-10 million barrels due to the standoff and called on China to pressure Iran, which exports most of its oil to Beijing.
Topics: China-Iran Relations Global Oil Supply Iran Strait of Hormuz U.S. Foreign Policy