- US plans to guide stranded ships through Strait of Hormuz to protect global supply chains
- Iran's navy described as ineffective, with US accusing Tehran of blocking international navigation
- US urges China to support reopening the Strait ahead of Trump-Xi summit
US Treasury Secretary Scott Bessent has termed President Donald Trump's "Project Freedom" plan, under which the United States would help guide stranded ships through the Strait of Hormuz, as a "humanitarian effort" aimed at safeguarding critical global supply chains, including liquified petroleum gas (LPG), vital for daily cooking needs in India.
Speaking to Fox News, Bessent claimed that during the World Bank Spring Meetings last month, several nations -- "some of the poorest and most vulnerable ones"-- came to him, urging the US to restore the commercial shipping through the critical waterway.
"This is a humanitarian effort... It's not only energy that's in there, but it's also fertiliser, it's food transport, it's LPG for the more than the billion-plus people in India use to cook," he said. FOLLOW LIVE UPDATES
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Victory Claims
The Team Trump official doubled down on the claim that Iran has lost its fighting ability in the war, and Tehran's defence against US forces, he claimed, was just 'propaganda'.
"I think the Iranians are starting to believe their own propaganda. And just to be clear, their leadership is hunkering down in bunkers all over the country, and I don't think they know what's going on. But what is going on is that they're reduced. Their Navy is not a Navy anymore," he claimed.
"It's a band of pirates. They are trying to cut off international freedom of navigation through the Strait of Hormuz. And the US is opening that up," Bessent added.
He further claimed that the Iranian economy is in freefall. "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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The China Problem
The Treasury Secretary also criticised China, alleging Beijing was financially enabling Iran. "Iran is the largest state sponsor of terrorism, and China has been buying 90 per cent of their energy, so they are funding the largest state sponsor of terrorism," he told Fox News.
Despite the accusation, Bessent called on Beijing to play a constructive role, particularly ahead of US President Donald Trump's expected meeting with Chinese President Xi Jinping next week.
"The attacks from Iran have closed the Strait. We are reopening it. So I would urge the Chinese to join us in supporting this international operation," he said, adding, "Let's see them step up with some diplomacy and get the Iranians to open the strait."
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Hormuz Concerns
Addressing concerns over global energy markets, Bessent acknowledged a shortfall of up to 10 million barrels per day due to the Hormuz crisis but expressed confidence that supply would stabilise.
"Help is on the way as of today," he said, noting that dozens of oil tankers are expected to move through the strait, while increased production from countries such as the UAE and OPEC members, along with record US output, would ease pressure.
Meanwhile, the key waterway for oil and gas transport remains largely closed despite repeated demands from the US for Iran to reopen the strait, even as the United States imposed a sea blockade on Iranian ports. Talks on a permanent end to war have also stalled, with tensions escalating as the United Arab Emirates, a US ally, said it came under attack from Iran for the first time since the ceasefire last month.
