US Treasury Secretary: US Military Will Escort Oil Tankers Through Strait of Hormuz

SmartContractAuditor · 2026-03-13T00:06:12+00:00

US Treasury Secretary Bessent disclosed that the US Navy will escort tankers through the Strait of Hormuz, possibly in cooperation with an international coalition. Iranian leaders threatened to close the strait, and oil prices rebounded to $100 due to attacks. The US has already invested approximately $11 billion in war-related expenses.

SmartContractAuditor

2026-03-13 00:06:12

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Odaily Planet Daily reports that U.S. Treasury Secretary Bessent revealed to Sky News that the U.S. Navy will escort oil tankers passing through the Strait of Hormuz, possibly in coordination with an international alliance. Iran’s new Supreme Leader Mojtaba Khamenei previously stated plans to use the closure of the strait as leverage against the U.S. and Israel, as this waterway carries about 20% of the world’s oil supply.

Iran’s previous attacks on Persian Gulf shipping and energy infrastructure have pushed oil prices above $100 per barrel. This price increase occurred after developed countries announced they would release 400 million barrels of oil from strategic reserves, nearly half of which are from the U.S.

Bessent also mentioned in the interview that the war has cost the U.S. approximately $11 billion so far. U.S. Energy Secretary Wright previously stated that escort operations would happen soon but are not yet ready. (Jin10)

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