Strait of Hormuz to become irrelevant in two years, says US Treasury Secretary

US Treasury Secretary Scott Bessent mentioned on Tuesday that the Strait of Hormuz might be circumvented in the next two years, as oil shipments shift to land-based pipelines. Bessent remarked, "In two years, the Strait of Hormuz will be like a worthless piece of water." He further emphasized that the Strait of Hormuz does not serve as a critical choke point for the United States.