U.S. Says ‘Economic Blockade’ Is Straining Iran’s Leadership Amid Ongoing Tensions
“We are suffocating the regime, and they are not able to pay their soldiers,” Bessent said, adding that the campaign involves a whole-of-government approach targeting Iran’s financial networks.
ERBIL (Kurdistan24) – U.S. Treasury Secretary Scott Bessent said on Sunday that Washington is intensifying pressure on Iran through what he described as a sweeping “economic blockade,” coordinated with ongoing U.S. military operations.
In an interview with Fox News, Bessent stated that the campaign stems from a “maximum pressure” directive issued in March by U.S. President Donald Trump, followed by a more recent order authorizing the Treasury Department to launch an initiative dubbed “Economic Fury.” The effort is intended to complement the Pentagon’s “Operation Epic Fury.”
“We are suffocating the regime, and they are not able to pay their soldiers,” Bessent said, adding that the campaign involves a whole-of-government approach targeting Iran’s financial networks.
The escalating measures come as tensions remain high in and around the Strait of Hormuz, a vital global energy corridor. Both Tehran and Washington have imposed restrictions on maritime traffic in the area. While Iran has reportedly limited much of the shipping through the strait, the U.S. Navy says it is blocking vessels traveling to and from Iranian ports.
Despite the standoff, reports indicate that both sides are engaged in negotiations as a fragile ceasefire holds.
Bessent also said the Treasury is targeting financial channels linked to Iran’s elite military force, the Islamic Revolutionary Guard Corps, aiming to prevent funds from reaching the group. He accused the IRGC of long-standing corruption and said U.S. authorities are working to locate and preserve offshore assets.
In remarks posted on X a day earlier, Bessent said the blockade would continue until “freedom of navigation” in the Strait of Hormuz is restored, while also claiming that rationing of food and fuel is underway inside Iran.
Meanwhile, Kevin Hassett, Director of the National Economic Council, echoed the assessment in an interview with CBS, warning that Iran’s economy is nearing “extreme calamity.” He cited rising inflation and worsening living conditions, suggesting the country is facing severe economic strain.