U.S. Treasury Secretary Scott Bessent doubled down on economic pressures on Iran on Tuesday.
Watch Bessent’s testimony on President Donald Trump’s budget request in the video player above.
In a post on X Tuesday evening, Bessent said the blockade of Iranian ports “directly targets the regime’s primary revenue lifelines” by constraining maritime trade.
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“Kharg Island storage will be full and the fragile Iranian oil wells will be shut in,” Bessent said.
Kharg Island is considered the beating heart of Iran’s oil industry, through which 90% of its exports pass.
In line with previous statements about economic pressure efforts, Bessent also said Iranian funds would remain frozen and any person or vessel facilitating the flow of funds to Iran would risk U.S. sanctions.
