"We are going to collapse this [the Iranian] regime," US Treasury Secretary Scott Bessent told CNBC in an interview on Thursday. "You are either with us or against us," he added, "we are going to squash the economy of this murderous regime." Bessent explained that the US will be increasing economic pressure pressure on Iran, reiterating US President Donald Trump's statements on Truth Social on Wednesday night, when the president announced that Iran would face "an ECONOMIC D-DAY."
He added that he will be holding a press conference on Monday to discuss exactly what the economic pressure will entail, noting that if any of American allies continue doing business with Iran, whether transferring money, or buying their oil, "then the US Treasury and the US government, they will put its full might and force toward enforcing against you."
"I see lots of reports that said, 'oh, well, this has never worked.' It does work, because we have a combination. It is a one-two punch," Bessent told CNBC. "We have the blockade, and we are going to have the toughest sanctions in history. And I will tell you, this will work. It worked in Venezuela once we put up the blockade. It is working in Cuba right now. And it is going to work in Iran, and we are going to collapse this regime."
Bessent also echoed Trump's claim that the US, not Iran, controls the Strait of Hormuz. "We do have control of the strait," he said, adding "You would have seen media reports that large amounts of energy are getting out. And I think that we can continue doing that in the southern lane, and that I think oil markets are misinterpreting what this economic pressure means." "The economic pressure means that we are going to, all of our allies, and this is going to be the greatest coordinated economic isolation in the history of the world." (Ed note: Listen to the Treasury Secretary.) (Read More)
