Trump’s Iran crackdown ‘suffocating’ regime as oil wells could shut within days, Bessent says
Treasury Secretary Scott Bessent stated that the U.S. is intensifying economic pressure on Iran through financial sanctions, asset freezes, and a naval blockade. He claimed the Iranian regime is being 'suffocated,' with its oil infrastructure deteriorating and storage nearing capacity. Bessent predicted that oil prices could fall as non-Iranian supply increases and Iranian oil production potentially shuts down in the coming days.
- ▪Treasury Secretary Scott Bessent said President Donald Trump ordered 'economic fury' against Iran.
- ▪The U.S. is tracking and preserving offshore assets linked to the Islamic Revolutionary Guard Corps for the Iranian people.
- ▪Iran may have to shut in oil wells within days due to full storage and declining infrastructure.
- ▪Bessent stated that more ships are moving through the Strait of Hormuz, which could reduce oil price pressure.
- ▪Some Gulf states have cooperated with the U.S. by providing information to freeze Iranian assets.
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Fox News Flash Trump’s Iran crackdown ‘suffocating’ regime as oil wells could shut within days, Bessent says The Treasury chief says IRGC offshore assets have been tracked down and will be preserved for the Iranian people after conflict By Max Bacall Fox News Published May 3, 2026 2:31pm EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video Bessent says Trump's 'economic fury' is 'suffocating' Iranian regime Treasury Secretary Scott Bessent discusses President Donald Trump's economic pressure on Iran, U.S. efforts to secure critical industries amid AI boom and more on 'Sunday Morning Futures.' NEWYou can now listen to Fox News articles! Treasury Secretary Scott Bessent said Sunday the U.S.
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