(May 4): US Treasury Secretary Scott Bessent called on US allies and on China to join an American operation to escort ships through the Strait of Hormuz even as he claimed the nation has total control of the vital waterway for the global oil trade.
“Let’s see if China — let’s see them step up with some diplomacy and get the Iranians to open the strait,” Bessent said on Monday on Fox News. “Iran is the largest state sponsor of terrorism, and China has been buying 90% of their energy, so they are funding the largest state sponsor of terrorism.”
The Treasury chief was speaking little more than a week before President Donald Trump is scheduled to meet with his Chinese counterpart Xi Jinping on a high-profile trip to China.
“The threat of attacks from Iran has closed the strait — we are reopening it,” Bessent said. “So I would urge the Chinese to join us in supporting this international operation.”
Trump said the US would begin an effort on Monday dubbed “Operation Freedom” that would see the military provide support to help ships stranded in the Persian Gulf transit the strait. The effort is set to include the use of guided-missile destroyers, aircraft and drones.
‘Absolute control’
See also: Nato chief says US disappointed in Europe over Iran response
“We are expecting our international partners to engage in the same thing,” Bessent said. He also said that “we are saying the Iranians do not have control of the strait. We have absolute control of the strait.”
Bessent said the current global oil shortfall due to the conflict is running at about 8-to-10 million barrels a day. Each crude carrier that goes through the Hormuz Strait has about two million barrels, he also said. If four or five vessels exit each day, that would address the deficit, he said. There are 150 to 200 such ships that “can come out,” he added.
“So I think the market is going to be very well-supplied,” Bessent said.
See also: Iran war fuels piracy surge off Somalia coast, EU agency says
In the meantime, Iran’s economy “is in free-fall,” the Treasury chief said. “Everyone says they have a high tolerance for pain. Well, their soldiers will not have a high tolerance for not getting paid.”
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