Treasury Secretary says US economic sanctions on Iran 'very successful'
Treasury Secretary says US economic sanctions on Iran 'very successful' US Treasury Secretary Scott Bessent said on Wednesday that US efforts to isolate Iran’s economy have been “very successful”. “For the first time since Iran started producing oil, they have no barrels of oil on the water”, he said in an interview with CNBC, claiming that internal estimates show Iran’s economy contracting by as…
US Treasury Secretary Scott Bessent stated on Wednesday that efforts to isolate Iran’s economy have been very successful. According to Middle East Eye, Bessent claimed that for the first time since Iran began oil production, the country has no barrels of oil on the water. He further noted that internal estimates show Iran’s economy contracting by as much as 25 percent between March 2025 and March 2026.
Bessent also stated that because sanctions prevent Iran from obtaining dollars, funding for proxies such as Hamas, Hezbollah, and the Houthis is being cut off, according to Middle East Eye. Ajel English also reported that Bessent described the economic isolation efforts as highly successful and noted that funding for Tehran’s proxies is decreasing.
Brief written by urgent.news from Middle East Eye, Ajel English, Fortune — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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