Treasury Secretary Scott Bessent joined Brian Kilmeade to discuss President Donald Trump’s economic pressure campaign against Iran, including new sanctions, financial restrictions, and the broader impact on Tehran’s economy.
Treasury Secretary Scott Bessent says sweeping U.S. sanctions and financial restrictions are tightening the economic pressure on Iran. (Chip Somodevilla / Getty Images)
In his interview, Bessent stated that Iran’s economy is “collapsing” and that the Iranian leadership is panicking. He outlined an eight‑week Treasury initiative called Operation Economic Outcast, which aims to sever financial and commercial ties and has already contributed to an estimated 20‑25 % decline in Iran’s GDP.
The administration has intensified its financial vise by targeting foreign banking channels, including an Egyptian bank’s Dubai branches that processed more than $1.8 billion in transactions linked to Iranian networks. Additional measures include shutting down Iranian airline travel, which Bessent said has disproportionately affected elites and the regime.
Bessent added that the pressure is spreading to ordinary Iranians, with some military personnel unpaid and police officers not reporting for duty. He emphasized that the United States will continue to make examples of violators and highlighted strong international cooperation.
In closing, Bessent noted that the Trump administration is still considering further actions against Iran as it weighs its next steps.