Iran's oil industry could shut down within a week due to lack of funds, says US Treasury Secretary

The United States is tightening the economic noose around Iran, with Treasury Secretary Scott Bessent declaring that the Islamic Republic is on the brink of collapse. Bessent's remarks, made on Fox News, paint a grim picture of Iran's financial state, suggesting the nation is struggling to even pay its military personnel – a critical indicator of a failing state.

According to Bessent, the pressure campaign, which includes a maritime blockade, is designed to crixtically impact Iran's primary source of revenue: oil exports. With Iran's oil storage capacity reportedly nearing its limit, the U.S. Treasury official predicts that the country's oil industry could be forced to cease operations within the next week. This dire situation is exacerbated by decades of sanctions that have left Iran's oil infrastructure in a state of disrepair, making it increasingly vulnerable to external pressures.

This aggressive economic strategy, pursued under the Trump administration, aims to isolate Iran and cripple its ability to fund its activities, including support for the Islamic Revolutionary Guard Corps. Bessent's comments suggest a coordinated effort to exploit Iran's economic weaknesses, with the ultimate goal of forcing concessions. The international community, particularly those reliant on the Strait of Hormuz for trade, will be closely monitoring the unfolding situation and its potential impact on global energy markets.