‼️ Treasury Secretary Scott Bessent downplayed the strategic importance of the Strait of Hormuz on Tuesday, telling Larry Kudlow at a global finance chiefs gathering in Asheville that the critical Persian Gulf waterway—currently controlled by Iran amid ongoing conflict—will be rendered obsolete by new oil pipelines within two years. “In two years, the Strait of Hormuz will be like a worthless piece of water,” Bessent said, signaling a shift away from reliance on the chokepoint for energy transport.
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