U.S. Treasury Secretary Scott Bessent stated during a September 1, 2026 fireside chat that the Strait of Hormuz would become strategically irrelevant to the United States within two years due to land-based pipelines. The remarks occurred at the Group of 20 finance ministers' meetings in North Carolina. Both Yonhap News and The Hill reported the core statements on U.S. energy diversification and Iran's actions in the waterway.