'A deal today or tomorrow to open Strait' | Bessent signals possible breakthrough in US-Iran talks

Amid diplomatic efforts between Washington and Tehran to reopen the Strait of Hormuz, US Treasury Secretary Scott Bessent on Tuesday indicated that a breakthrough could be imminent, saying an agreement to reopen the strategic waterway may be reached "today or tomorrow." In an interview with CNBC, Bessent said the ongoing negotiations followed US President Donald Trump's warning last week of what he described as one of the largest potential military campaigns since World War II against Iran.

"We've seen President Trump last week threaten what would have been one of the largest military campaigns since World War II against the Iranians. Because of that, we are in talks with the Iranians, and I think there is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalised position in this conflict," Bessent said.

Claims on Iran's military

Bessent also reiterated Washington's claims that Iran's military capabilities had suffered extensive damage. He said Tehran's air force and navy had been "wiped out" and that a substantial part of its missile arsenal had also been destroyed. "That is because their air force and navy are wiped out, substantial portions of their missiles are wiped out," he said.

Shift towards diplomacy

Bessent's comments signal a possible diplomatic opening after weeks of heightened tensions between the two countries and a pause in hostilities following successive rounds of US strikes on Iranian targets. The remarks come as Washington and Tehran explore avenues to de-escalate the conflict and restore maritime movement through the Strait of Hormuz.

Iran reiterates position

Earlier on Monday, Iranian President Masoud Pezeshkian said Tehran was not seeking to inflame regional tensions but would firmly defend the country's sovereignty. His statement followed comments by President Trump, who said Iran had been given a "last chance" to reach an agreement. Trump claimed the United States had paused a planned military strike after receiving requests from Saudi Arabia, the United Arab Emirates, Qatar and Iran to allow diplomacy another opportunity.

Trump cites regional mediation

According to Trump, the current negotiations are taking place at Iran's request and with the backing of key Gulf nations. "We are talking right now, we're talking and we're talking at the request of Iran, backed by Saudi Arabia, backed by UAE, and backed by Qatar in particular, but others also. Many countries called... they all wanted to give this a last chance," he said.

Focus on Strait of Hormuz

Regional powers in West Asia and the Gulf continue to push for a diplomatic resolution aimed at reducing tensions and ensuring safe navigation through the Strait of Hormuz, one of the world's most critical maritime routes for global oil and gas shipments.