Lead
U.S. Treasury Secretary Scott Bessent said Tuesday that the United States and Iran could reach a deal this week to reopen the Strait of Hormuz, according to Yonhap News. Speaking in a CNBC interview, Bessent said the deal would focus on "freedom of movement" in the crucial waterway, which has been disrupted by the ongoing Middle East war.
"We are in talks with the Iranians," Bessent was quoted as saying. "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 remarks come amid persistent concerns over war-related disruptions to commercial shipping through the strait, a vital route for oil, natural gas, fertilizer, and other commodities.
Coverage Comparison
Yonhap News reported Bessent's comments in two separate dispatches, both filed from Washington on Aug. 4. The first article focused on Bessent's interview and included President Donald Trump's earlier remarks about ongoing talks. The second, updated version added remarks from Secretary of State Marco Rubio during a State Department press availability, citing progress in discussions with Iran and Oman over the strait.
Both reports attributed the statements directly to the officials, quoting Bessent and Rubio without additional commentary or analysis.
Key Claims
Potential Deal on 'Freedom of Movement'
Bessent said the deal would be about "freedom of movement" in the strait. When asked whether Iran would be allowed to impose a toll on ships transiting the waterway, he replied, "It would be freedom of movement."
The Treasury secretary did not provide specific details on the mechanics or timeline of the potential agreement, but he expressed optimism about a near-term resolution.
Stranded Ships and Oil Prices
Bessent noted that hundreds of ships are stranded in the Persian Gulf due to the Middle East war. If those vessels are able to exit, he said, oil prices should fall further.
"It's not just energy. It's fertilizer, it's refined products, it is the various industrial gases," he said. "We could see a big relief trade as those prices go down."
The remark suggests a broader economic impact beyond crude oil, encompassing other commodities that transit the strait.
Trump's Previous Statement
On Monday, President Donald Trump said that Washington and Tehran are in talks over the reopening of the Strait of Hormuz "literally" by Tuesday. He described the opening of the strait as "the first phase" and discussions on Iran's nuclear program as the "second phase."
That characterization aligns with Bessent's timeline of a possible deal within days, though neither official specified the status of the nuclear talks.
Rubio on Progress
Secretary of State Marco Rubio, during a press availability at the State Department, pointed to progress in talks with Iran and Oman over the Strait of Hormuz, according to Yonhap.
"There's been progress made in those talks, but not finality yet. We're hoping that will happen very shortly," he was quoted by CBS News as saying.
Rubio's cautious wording suggests that while discussions are advancing, a final agreement has not yet been reached — a note of caution amid Bessent's more optimistic timeline.
Perspectives
U.S. Officials
Treasury Secretary Bessent, President Trump, and Secretary of State Rubio all expressed optimism about the ongoing talks, with Bessent suggesting a deal could be reached imminently. They framed the reopening as a step toward normalizing the conflict situation and easing commodity prices.
No direct Iranian perspective was reported in the material.