US Treasury's Bessent says Strait of Hormuz could reopen within 30-60 days

WASHINGTON, United States — WASHINGTON — U.S. Treasury Secretary Scott Bessent said an agreement could reopen the Strait of Hormuz for 30 to 60 days, with an understanding possibly announced later Tuesday or on Wednesday. He said the temporary reopening would help pull down energy prices. Bessent said the United States is working to "strangle" Iran's economy. He cited inflation of 150% to 180% in Iran and claimed Tehran is struggling to pay its military's salaries. He argued the Strait of Hormuz will not return to its previous state, citing Iran's use — or attempted use — of the waterway as a "strangulation point." The Treasury secretary did not provide further details on the parties to the reported agreement or its precise terms, and no immediate confirmation from Iranian officials was available.