{
  "id": 4961895,
  "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
  "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-4961895",
  "topic": "world",
  "section": "World",
  "published": "2026-09-01T23:22:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/world/20260902/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-oil-pipelines-bypass-it"
  },
  "original_language": "en",
  "account": "U.S. Treasury Secretary Scott Bessent warned on Tuesday that the Strait of Hormuz will become an \"unworthless piece of water\" within the next two years, as oil shipments will bypass the strategic waterway through land-based pipelines. The treasury secretary made these remarks during a fireside chat with FOX Business Network host Larry Kudlow at the G20 finance ministers meetings in Asheville, North Carolina. Tensions between Washington and Tehran have escalated in recent months, with both nations exchanging strikes that have put the future of the strait at risk. While Bessent acknowledged that the United States is not a choke point for the Strait of Hormuz, he emphasized that many other countries are indeed reliant on the route. The secretary added that in two years, the Strait of Hormuz will lose its significance, as oil will be transported through land-based pipelines. During the Middle East conflict, Iran has effectively blocked the crucial shipping route, causing disruptions that have contributed to high energy prices and putting pressure on Washington.",
  "summary": "WASHINGTON — U.S. Treasury Secretary Scott Bessent said Tuesday that the Strait of Hormuz will be \"like a worthless piece of water\" in two years as oil will be shipped through land-based pipelines, bypassing the crucial waterway. Bessent made the remarks during a fireside chat with FOX Business Network host Larry Kudlow at the Group of 20 finance ministers' meetings in Asheville, North Carolina,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 10,
    "also_reported_by": [
      {
        "outlet": "Al Jazeera",
        "title": "Qatar says efforts under way to end Iran-US war and reopen Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/qatar-says-efforts-under-way-to-end-iran-us-war-and-reopen-strait-of",
        "published": "2026-09-01T15:29:48.000Z"
      },
      {
        "outlet": "Axios",
        "title": "U.S. military conducting fresh strikes in the Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/u-s-military-conducting-fresh-strikes-in-the-strait-of-hormuz",
        "published": "2026-09-01T16:49:03.000Z"
      },
      {
        "outlet": "Euronews",
        "title": "US military says it struck IRGC targets in Iran after attacks on shipping in Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-military-says-it-struck-irgc-targets-in-iran-after-attacks-on",
        "published": "2026-09-01T17:40:23.000Z"
      },
      {
        "outlet": "Business Standard IN",
        "title": "US launches new barrage of strikes on Iran around Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-launches-new-barrage-of-strikes-on-iran-around-strait-of-hormuz",
        "published": "2026-09-01T18:37:05.000Z"
      },
      {
        "outlet": "Ajel English",
        "title": "Oil surges over 5% as US-Iran tensions raise Hormuz Strait risks",
        "url": "https://urgent.news/2026/09/01/oil-surges-over-5-as-us-iran-tensions-raise-hormuz-strait-risks",
        "published": "2026-09-01T19:27:30.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
        "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as",
        "published": "2026-09-01T19:58:17.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "US launches new barrage of strikes on Iran around Strait of Hormuz",
        "url": "https://urgent.news/2026/09/01/us-launches-new-barrage-of-strikes-on-iran-around-strait-of-hormuz-4932645",
        "published": "2026-09-01T20:01:42.000Z"
      },
      {
        "outlet": "The Hill",
        "title": "Bessent predicts Strait of Hormuz will be 'worthless' in 2 years",
        "url": "https://urgent.news/2026/09/01/bessent-predicts-strait-of-hormuz-will-be-worthless-in-2-years",
        "published": "2026-09-01T20:16:39.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Bessent says Strait of Hormuz would be 'worthless piece of water' as oil pipelines bypass it",
        "url": "https://urgent.news/2026/09/01/bessent-says-strait-of-hormuz-would-be-worthless-piece-of-water-as-4960433",
        "published": "2026-09-01T23:17:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}