Qatar says US wrong about Hormuz future

Qatari Energy Minister Saad Al-Kaabi said U.S. Treasury Secretary Scott Bessent is “wrong” when he said that the strategic Strait of Hormuz will be worthless in two years.

Speaking at the Qatar Economic Forum in New York City, Al-Kaabi said that Hormuz is a key transit venue for all kinds of trade beyond oil and gas, and that the trade that happens through the Hormuz Strait cannot be obsolete.

“I mean, maybe this is his view. I think this is completely wrong,” Al-Kaabi said.

He also said that Qatar isn’t currently planning to build new pipelines to bypass Hormuz, and that the decision in Qatar was based on commercial and technical considerations.

“We have decided not to do pipelines, and I think the decision in Qatar was based on commercial and technical, and we are only going to be using the straits,” Al-Kaabi said.

Bessent had made the remark earlier this month, saying that the crucial waterway will become less important as countries work on pipelines to bypass it.