Amid diplomatic engagements between Washington and Tehran to reopen the Strait of Hormuz, U.S. Treasury Secretary Scott Bessent on Tuesday (August 4, 2026) signalled a possible breakthrough in talks with the Islamic Republic, noting that the agreement to reopen the strategic waterway could be reached “today or tomorrow”.

Speaking during an interview with CNBC, Mr. Bessent said the development comes on the heels of the threats issued by U.S. President Donald Trump’s last week on Iran, which he described as one of the largest potential military campaigns since World War II.

Mr. Bessent’s remarks come as a positive turn towards diplomacy after Washington’s slew of heightened rhetoric amid the pause of hostilities with Tehran following days of strikes by the U.S.

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