US Treasury Secretary Bessent says deal may be reached by Wednesday to reopen Strait of Hormuz - media

U.S. Treasury Secretary Scott Bessent said Tuesday that a deal with Iran could be reached on Tuesday or Wednesday to reopen the Strait of Hormuz.

Bessent said in an interview with CNBC that talks with the Iranians are underway, and he thinks there is a chance for a deal to be reached within the day or tomorrow to "open the strait and move towards a more normalized position in the conflict."

When asked whether Iran would be allowed to charge a toll on ships that pass through the Strait of Hormuz, the U.S. treasury secretary said, "It would be freedom of movement."

He added that prices should fall further when hundreds of ships stuck in the Gulf are able to exit, noting that the impact extends beyond energy to include fertilizers, refined petroleum products, and industrial gases.

U.S. Secretary of State Marco Rubio said Tuesday that while the United States sees the denuclearization of Iran as its "ultimate deal," reopening of the Strait of Hormuz is the "immediate" one.

Iranian Foreign Ministry spokesman Esmaeil Baghaei said on the same day that ongoing talks between Iran and Oman were "positive" at both the technical and political levels, and were focused on designating safe routes for maritime passage through the Strait of Hormuz.

Qatar confirmed on Tuesday that mediation efforts between the United States and Iran remain underway, with draft language for a possible agreement continuing to be exchanged between the two sides as regional mediators work to prevent further escalation.

Majed Al Ansari, adviser to Qatar's prime minister and spokesperson for the Ministry of Foreign Affairs, said during a weekly press briefing that there were no direct talks scheduled between the United States and Iran but expressed hope that mediation efforts would soon lead to the resumption of negotiations.

On the possibility of reaching an agreement, Al Ansari said no timeline could be set.