Treasury Secretary Admits Iran Oil Tankers Doing Just Fine in War

Treasury Secretary Scott Bessent announced on Monday that the United States is “fine” with allowing Iranian oil tankers to pass through the Strait of Hormuz—due to the surging oil prices thanks to Trump’s war.

“The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent said in an interview with CNBC’s Brian Sullivan. “We think that there will be a natural opening that the Iranians are letting out, and for now we’re fine with that. We want the world to be well supplied.”

Asked whether the Trump administration will take any additional actions to address skyrocketing oil prices, Bessent said “it will depend on the duration of the conflict.” Iran, however, is very much profiting, as they’ve maintained their ability to move oil around the world—mostly to China.

This comes just hours after President Trump virtually begged China, France, and other U.S. allies for help ushering oil through the strait.

The United States doesn’t seem to be “allowing” anything here. The Strait of Hormuz is lined with explosives and under Iranian control. Bessent’s admission seems like panicked capitulation based on skyrocketing oil prices rather than some kind of diplomatic tactic.