U.S. Treasury Secretary Bessent said the Strait of Hormuz is unlikely to return to its previous status after Iran used, or tried to use, the passage as a chokepoint for energy flows. He said the waterway would gradually become less important over the next two years and described it as eventually turning into "just another body of water." Bessent added that more than 50% and possibly 70% of the energy currently transported through the strait could instead move via underground pipelines. The remarks point to a potential long-term shift in regional energy logistics, as governments and companies seek routes that are less exposed to geopolitical disruption.