US, Iran Could Reach Hormuz Deal Within Days, Says Treasury Secretary

WASHINGTON, Aug 4: The United States and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz and restore freedom of movement for commercial shipping, US Treasury Secretary Scott Bessent said.

Speaking to CNBC, Bessent said Washington was engaged in talks with Tehran and that a deal could help ease tensions and return the strategic waterway to a more normal operating environment.

“We are in talks with the Iranians,” Bessent said. “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.”

Asked whether Iran would be permitted to impose a toll on ships using the vital shipping route, Bessent said any agreement would ensure freedom of navigation through the strait.

“It would be freedom of movement,” he said, adding that despite recent tensions, several commercial vessels had already managed to pass through the waterway.

The Strait of Hormuz is one of the world’s most important maritime chokepoints, with a significant share of global energy shipments passing through the narrow channel. Any restrictions on shipping through the strait could have major implications for international trade and energy markets.