Washington, DC (US), May 4, 2026, BNN Web Staff: Scott Bessent has said that intensifying US economic pressure is pushing Iran into a severe financial crunch, warning that its crucial oil sector is nearing a breaking point.
Speaking to Fox News, Bessent described the sanctions campaign as entering a decisive phase after months of sustained pressure.
He claimed the economic strain is now impacting Iran’s internal systems, including its ability to pay military personnel.
The US strategy has shifted towards tightening financial and maritime restrictions to curb Iran’s oil exports—its main source of revenue. Bessent indicated that storage facilities are nearing capacity, forcing Tehran to consider cutting production.
He also highlighted the deteriorating condition of Iran’s oil infrastructure, attributing it to decades of sanctions and lack of maintenance. The US has further stepped up efforts to block financial networks linked to the Islamic Revolutionary Guard Corps.
Meanwhile, US President Donald Trump reiterated that any future agreement would require Iran to end its nuclear programme, a charge Tehran continues to deny.
