Bessent says there may be deal Tuesday or Wednesday to open Strait of Hormuz with 'freedom of movement'
and Iran could reach a deal on Tuesday or Wednesday to reopen the Strait of Hormuz with freedom of movement for commercial ships, Treasury Secretary Scott...
Key points
- and Iran could reach a deal on Tuesday or Wednesday to reopen the Strait of Hormuz with freedom of movement for commercial ships, Treasury Secretary Scott Bessent said in an interview.
- "We are in talks with the Iranians," Bessent told CNBC's "Squawk Box." "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." The Treasury Secretary said the deal would allow freedom of movement in the strait when asked whether Iran would be allowed to charge a toll.
- "It would be freedom of movement," Bessent said.
- Bessent said he expects prices to fall further when Hormuz opens.
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and Iran could reach a deal on Tuesday or Wednesday to reopen the Strait of Hormuz with freedom of movement for commercial ships, Treasury Secretary Scott Bessent said in an interview. "We are in talks with the Iranians," Bessent told CNBC's "Squawk Box." "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." The Treasury Secretary said the deal would allow freedom of movement in the strait when asked whether Iran would be allowed to charge a toll. "It would be freedom of movement," Bessent said. Bessent said he expects prices to fall further when Hormuz opens. "There are hundreds if not 1,000 ships sitting in there and waiting to go out," he said. We could see a big relief trade as those prices go down." President Donald Trump said over the weekend that he called off a major attack on Iran to allow for negotiations to reopen Hormuz.