US Treasury Secretary Scott Bessent says that the Strait of Hormuz will become obsolete within two years as alternative oil routes would bypass the strategic waterway, Anadolu reports.

“We have to de-risk everywhere in the world. We can see the Iranians are trying to use the Strait of Hormuz as a choke point,” Bessent says during an interview in Asheville, North Carolina. “It’s not a choke point for the US, but it is a choke point for many, many other countries.”

Bessent claims the strategic waterway “will be bypassed in two years”.

“In two years, the Strait of Hormuz will be like a worthless piece of water,” he said. “The oil will be going on pipelines across land.”