Why is US allowing Iran to continue shipping oil through the Strait of Hormuz? Treasury Secretary explains

Treasury Secretary Scott Bessent on Monday said that the United States is permitting Iranian oil tankers to pass through the Strait of Hormuz, according to CNBC. He said the US believed Iran is allowing a gradual reopening of the route, adding that Washington is comfortable with the situation for the time being, as it wanted to ensure adequate global energy supplies.

"The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent said. He added, "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."

Tanker movement through the Strait of Hormuz has dropped sharply as Iran targets commercial vessels in the Persian Gulf. However, despite a significant US naval presence in the region, Tehran has continued to ship millions of barrels of crude via the narrow maritime corridor, exporting roughly 1.5 million barrels a day.

Bessent said Washington expects tanker traffic through the strait to pick up before American and allied naval forces begin escorting merchant ships. He added that tankers supplying India had already managed to pass through the route, and the United States also believes that some Chinese vessels have successfully exited the Gulf, the report noted.

Trump says some nations not enthusiastic about helping reopen Strait of Hormuz

US President Donald Trump on Monday once again urged other countries to assist in reopening the Strait of Hormuz, while expressing dissatisfaction that some nations had shown limited willingness to support Washington’s efforts.

He has called for international cooperation to secure the strategic waterway after Iran retaliated against US–Israeli strikes by deploying drones, missiles and naval mines. These actions have effectively disrupted tanker traffic along a route that typically carries about one-fifth of the world’s oil and liquefied natural gas supplies.

According to Reuters, at an event at the White House, Trump said, “Some are very enthusiastic about it, and some aren't. Some are countries that we've helped for many, many years. We've protected them from horrible outside sources, and they weren't that enthusiastic. And the level of enthusiasm matters to me.”

LPG tanker Shivalik reaches Mundra Port in Gujarat after crossing Strait of Hormuz

Meanwhile, the Indian LPG carrier Shivalik, transporting around 40,000 metric tonnes of liquefied petroleum gas, reached Mundra Port in Gujarat on Monday evening.

The vessel arrived after safely exiting the Strait of Hormuz late the previous night or early in the morning.

Earlier in the day, during an inter-ministerial briefing on recent developments in West Asia held in New Delhi, Rajesh Kumar Sinha, Special Secretary at the Ministry of Ports, Shipping and Waterways, said that documentation procedures and priority berthing had been arranged at the port to ensure the cargo could be discharged without delay, as per ANI.

He said another Indian LPG carrier, Nanda Devi, is expected to reach the port on Tuesday.