US Treasury Secretary Scott Bessent has said the United States is “suffocating” Iran through sweeping economic and financial measures, claiming the pressure campaign is approaching a decisive phase.
In an interview with Fox News, Bessent described the strategy as intensifying after months of sustained action. “We have been running a marathon over the past 12 months, and now we are sprinting toward the finish line,” he said.
He asserted that Iran’s internal systems are under severe strain, adding that the country is struggling to meet basic financial obligations, including payments to its military personnel.
The remarks come as the administration of Donald Trump shifts its focus from direct military engagement to an aggressive economic squeeze, including restrictions targeting Iran’s oil exports, its primary revenue source.
Bessent warned that Iran’s petroleum sector could soon face a critical crunch, with crude storage filling up rapidly and production potentially needing to be curtailed. He also pointed to the deteriorating state of oil infrastructure, attributing it to years of sanctions and limited maintenance.
The US has also tightened scrutiny of financial channels, particularly those linked to the Islamic Revolutionary Guard Corps (IRGC), aiming to restrict funds flowing into the country.
According to Bessent, maritime enforcement measures have significantly curbed Iran’s ability to export oil, while dismissing Tehran’s attempts to levy passage fees in regional waters as insignificant compared to its broader economic losses.
Meanwhile, Donald Trump reiterated that recent proposals from Tehran fall short of US expectations, maintaining that any agreement must include curbs on Iran’s nuclear programme, an issue Tehran continues to deny pursuing for weapons purposes.
