U.S. Treasury Secretary Scott Bessent signalled the U.S. and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz, restoring free passage for commercial shipping.
Bessent told CNBC’s "Squawk Box” on Tuesday that the proposed agreement would ensure “freedom of movement” through the strait, indicating that Iran would not be allowed to impose transit tolls.
“There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict.”
"Even though things are still a little dicey there over the past few days, we saw quite a few ships coming out even now," Bessent added.
He said hundreds, possibly more than 1,000 ships are waiting to depart, with the disruption affecting not only energy shipments but also fertilizers, refined petroleum products, and industrial gases.
