United States Treasury Secretary Scott Bessent has described President Donald Trump’s proposed “Project Freedom” initiative as a humanitarian effort aimed at restoring safe maritime movement through the Strait of Hormuz, a critical global shipping route for energy and essential goods. His remarks come amid heightened tensions in the region, where disruptions have affected global oil, food, and gas transport.

Speaking to Fox News, Bessent said the initiative is intended to help guide stranded commercial vessels through the waterway, which has seen significant instability due to ongoing conflict. He stressed that the impact of the crisis extends beyond oil, affecting fertilizer shipments, food supplies, and liquefied petroleum gas (LPG), which he said is essential for cooking needs for over a billion people in countries like India.

He specifically highlighted India’s dependence on LPG imports, noting that disruptions in the Strait of Hormuz could have direct consequences for everyday household energy use. According to him, restoring normal shipping routes is not only an economic priority but also a humanitarian necessity for many developing countries that rely on uninterrupted energy supply chains.

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Bessent also accused Iran of destabilising maritime security in the region, describing its naval capabilities as severely weakened and alleging that its actions were aimed at disrupting international freedom of navigation. He claimed that Iran’s economy was under severe pressure and suggested that its leadership was struggling to maintain internal stability amid ongoing geopolitical tensions.

In addition, the US Treasury Secretary criticised China, alleging that Beijing’s continued purchase of Iranian oil was indirectly financing what he called state-sponsored terrorism. He urged China to support international efforts to reopen the Strait of Hormuz, particularly ahead of diplomatic engagements between US and Chinese leadership.

Despite acknowledging a temporary global supply shortfall of up to 10 million barrels per day due to the crisis, Bessent expressed confidence that energy markets would stabilise. He cited increased production from Gulf countries, OPEC members, and record output from the United States as key factors expected to ease pressure on global supplies in the coming weeks.

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