KABUL: Scott Bessent, U.S. Treasury Secretary, says the United States will continue its “maximum pressure” campaign against Iran.
In a statement on Wednesday, Bessent said any individual, vessel, or entity involved in facilitating what he described as “illicit” flows to Tehran will face sanctions.
He added that Washington is targeting Iran’s shadow banking networks, cryptocurrency access, so-called shadow fleet, arms procurement channels, funding sources for proxy groups, and independent Chinese refineries known as “teapots” that support Iranian oil trade.
Bessent claimed that under the pressure campaign, inflation in Iran has doubled and the national currency has significantly weakened.
He also warned that Kharg Island, Iran’s main oil export terminal, is nearing storage capacity, which could force a reduction in oil production potentially causing losses of around $170 million per day.
Iranian officials have previously said they have found ways to bypass U.S. sanctions and mitigate economic pressure.
U.S. Treasury: ‘Maximum pressure’ campaign on Iran to continue
