[U.S. Treasury Secretary: U.S. Navy Will Escort Oil Tankers Through the Strait of Hormuz as Long as Military Conditions Permit] According to a report by Jinse Finance, on March 13, U.S. Treasury Secretary Besant revealed to Sky News that the U.S. Navy will escort oil tankers passing through the Strait of Hormuz. Iran's new Supreme Leader, Mojtaba Khamenei, stated on Thursday that he plans to effectively close this strategic waterway, which accounts for 20% of the world's oil supply, as leverage against the U.S. and Israel. In an interview with Sky News' Wilfred Frost, Besant said: 'I believe that as long as military conditions permit, the U.S. Navy—perhaps in collaboration with an international coalition—will immediately begin escorting vessels.' He added: 'In fact, oil tankers are still passing through now, including Iranian tankers... so we know they have not blocked the strait.'