Bessent Says US Has ‘Absolute Control’ of Strait of Hormuz, Would Respond Only if Attacked
Summary
- US Treasury Secretary Scott Bessent said the US has absolute control over the Strait of Hormuz.
- Bessent said Iran’s economy is close to collapse and that the US-led 'Project Freedom' is proceeding without consultation with Iran.
- Markets are watching whether tough rhetoric over the Strait of Hormuz could widen geopolitical risk in the Middle East.
Forecast Trend Report by Period
The US government underscored its control over the Strait of Hormuz and reaffirmed a hard-line stance amid tensions with Iran.
Crypto-focused media outlet Odaily reported on May 4 that US Treasury Secretary Scott Bessent said the US has “absolute control” over the Strait of Hormuz.
Bessent described Iran’s economy as close to collapse and said Tehran is in no position to control the waterway. He also said “Project Freedom,” a US initiative, is moving forward without consultation with Iran.
He added that the US is prepared to respond if Iran escalates tensions, while emphasizing that Washington would retaliate only if attacked.
Markets are watching whether tough rhetoric from both sides over the Strait of Hormuz could further heighten geopolitical risk in the Middle East.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
