Event Brief
US Treasury chief says Strait of Hormuz will be bypassed
By The BriefBrief · Sources (16)
Filed: Sep 01, 2026 at 11:06 AM ET
Summary: US Treasury Secretary Scott Bessent told G20 ministers that the Strait of Hormuz will be “bypassed in two years,” calling it a “worthless piece of water.” He linked the claim to Iran’s closure of the strait in response to US-Israeli strikes in February and threatened imminent new sanctions.
WHO: Scott Bessent, US Treasury Secretary
WHAT: Bessent said the Strait of Hormuz will be bypassed in two years and threatened new sanctions on Iran.
WHEN: Aug 31, 2026 at 8:00 PM ET
WHERE: USA
WHY: He was reacting to Iran’s closure of the Strait of Hormuz and threatened sanctions in response.
ℹ️ This event is analyzed using pattern arcs, velocity indicators, and source analysis in our MI Console.
🔍 Sources (16) 🔒
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