Hormuz Strait May Lose Its Strategic Importance

The U.S. Secretary of the Treasury, Scott Bisenet, has announced that the Hormuz Strait may no longer hold its previous strategic significance in the future. According to him, Iran has attempted to use the strait as a tool of pressure by threatening to close it, resulting in a reevaluation of energy transportation routes.

“In the next two years, we will see that the Hormuz Strait will lose its previous importance. It will become just another waterway. I believe that today 50-70% of the energy resources transported through the strait will be diverted to underground pipelines,” noted Bisenet.