U.S. Treasury Secretary Says Strait of Hormuz Will Become Irrelevant

U.S. Treasury Secretary Janet Yellen stated in an interview on August 6 that the Strait of Hormuz will lose its current status as a key energy transport route and will never return to its former significance. She pointed out that this is not the favorable scenario depicted by Iran, but rather that within the next two years, the Strait of Hormuz will "become irrelevant," with more than 50% or 70% of the energy that was originally transported through the strait being shifted to underground pipelines.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.