US Treasury Secretary Scott Besent stated that the US and Iran could reach an agreement on restoring navigation in the Hormuz Strait as early as August 4 or 5. In an interview with CNBC, he mentioned that there is a likelihood that the parties will reach an agreement on opening the strait and transitioning to a more normal situation in the conflict.
Besent added that the agreement would require freedom of movement in the strait, which means that Iran will not charge for passage. “It will be freedom of movement,” he said.
He also noted that, despite the fact that the situation has been somewhat unstable in recent days, a considerable number of vessels are currently leaving the strait:
