Treasury Secretary Scott Bessent said that the United States could reach a deal with Iran to reopen the Strait of Hormuz by Wednesday (August 5, 2026), adding that this would stabilise energy prices.
"We are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalised position in this conflict," Mr. Bessent said Tuesday (August 4) in an interview with CNBC.
Asked if a deal would allow Iran to charge a toll on shipping using the strait, Mr. Bessent said: "I think it would be freedom of movement."
Mr. Bessent's comments echoed those of U.S. President Donald Trump on Monday (August 3), who insisted the waterway could reopen within hours after he pulled back from threats of a massive military strike on Iran over the weekend.
Iran's Foreign Ministry has denied that negotiations with Washington were taking place, and on Tuesday (August 4), an unknown projectile hit a cargo ship in the Strait of Hormuz, a key point of tension in the U.S.-Iran conflict.
