BlockBeats News, March 13, U.S. Treasury Secretary Janet Yellen revealed that the U.S. Navy will escort oil tankers through the Strait of Hormuz.
Iran’s new Supreme Leader, Ebrahim Raisi, stated on Thursday that Iran plans to effectively close this strategic waterway, which is a critical pathway for 20% of the global oil supply, as a bargaining chip against the U.S. and Israel. In response, Yellen said, “I think as long as the military conditions allow, the U.S. Navy — perhaps with an international coalition — will immediately begin escorting vessels. In fact, there are still oil tankers passing through right now, including Iranian tankers. So we know they are not blockading the strait.”
