Iran 'Has No Oil on the Water' Amid US Economic Pressure
US Treasury Secretary Scott Bessent said Iran's oil exports are severely impacted by Washington's economic pressure campaign. According to him, Iran loaded zero crude oil onto tankers in September, marking a significant reduction in its oil revenues.
The remarks come as part of the Trump administration's intensified sanctions campaign against Tehran, targeting its oil revenues, financial networks, and industrial sectors under 'Operation Economic Outcast'. The Treasury Department announced new sanctions on October 1, targeting Iran's automotive, rail, manufacturing, and steel networks.
Bessent emphasized that the measures aim to cut off the Iranian regime's most critical source of revenue. He urged European countries to accelerate previously announced releases from strategic oil reserves to help stabilize global energy markets.