US treasury asserts absolute control over Strait of Hormuz

• US Treasury Secretary Scott Bessent said that the United States has established "absolute control" over the Strait of Hormuz.
• Bessent characterized the Iranian economy as being in "free fall".
• He urged China to join international efforts to keep the passage open.

US Treasury Secretary Scott Bessent claimed that the United States has successfully opened the Strait of Hormuz and now exercises "absolute control" over the strategic maritime chokepoint.

The announcement marks a major shift in the regional standoff, as the Secretary explicitly stated that "the Iranians do not control the Strait of Hormuz."

Economic pressure 

Bessent provided a grim assessment of Tehran’s financial state, noting that the Iranian economy is currently in "free fall." Despite the heightened tensions and the ongoing military presence in the Gulf, the Secretary expressed confidence in the stability of global energy supplies.

"I believe the oil market will be very well supplied," Bessent said. He added that while the current situation is volatile, "this conflict will eventually end, and energy prices will drop very quickly."

Diplomatic pressure on China

A significant portion of the Secretary’s remarks focused on the role of Beijing in sustaining Tehran’s economy. Bessent pointed out that China has been purchasing 90 percent of Iran’s energy exports, a move he described as "financing the largest state sponsor of terrorism."

The Secretary urged China to join the US-led international effort to ensure the Strait remains open to global trade. He also confirmed that US President Trump and the Chinese President have been in direct communication regarding the situation in Iran, noting that the two leaders have exchanged messages on the matter.