US Treasury chief says economic pressure on Iran is intensifying

US Treasury Secretary Scott Bessent said economic pressure on Iran is widening across several sectors and claimed that Chinese support for Iran has fallen significantly.

In an interview with Fox News on Sunday, he said the process of isolating Iran economically is being pursued in stages and includes cryptocurrencies, aviation and maritime transport. Bessent also claimed that China has taken a respectful approach toward the US president.

Without referring to reports published on the situation in the Strait of Hormuz, the US Treasury secretary said more than 1 billion barrels of oil had passed through the waterway, but Iran’s share had been zero.

Bessent went on to say that only 15 million barrels of Iranian oil remain at sea and that Tehran will soon deliver its final shipments to China. He also quoted Iranians as saying that if an agreement is reached, the straits will be opened.

The Strait of Hormuz is considered one of the world’s most important energy transit routes, and any disruption or tension there has a direct impact on global oil markets and maritime transport.