US may begin escorting tankers through Strait of Hormuz by late March

The United States may begin naval escorts for oil tankers passing through the Strait of Hormuz in the coming weeks. US Treasury Secretary Scott Bessent told Sky News that the operation could be carried out with the support of an international coalition.

According to Bessent, the US Navy will start escorting vessels as soon as it becomes militarily feasible and once the United States establishes full control of the airspace in the region. He noted that some ships are already transiting the strategic waterway, including Iranian tankers and several vessels sailing under the Chinese flag.

The treasury secretary said this indicates that Iran has not mined the strait. However, he did not rule out the possibility that a broader multinational effort could be organized to ensure safe navigation through the corridor.

Earlier, US Energy Secretary Chris Wright told CNBC that naval escorts in the strategic passage would happen “relatively soon,” but stressed that the United States is not yet ready to implement the operation immediately.

Tensions in the region have risen following Iranian attacks on shipping traffic and energy infrastructure in the Persian Gulf, which recently pushed oil prices above $100 per barrel. Around 20% of global oil supplies pass through the Strait of Hormuz, making any disruption there a major concern for global energy markets.

Tags: prices, USA, war, Iran