important facts
Published: May 3, 2026Location: Washington D.C.Source: Sunday Morning Futures
- US Treasury says Iran regime is being “suffocated” through aggressive financial and naval pressure
- Trump administration orders “economic crackdown” targeting IRGC assets and global financial networks
- Iran’s oil system near collapse, likely to send global oil prices lower
By emmitt barryWorthy News Washington DC Bureau Chief
(Qualified News) – US Treasury Secretary Scott Besant said on Sunday that the United States is dramatically increasing financial and military pressure on Iran, calling the strategy a deliberate effort to “suffocate” the regime and cut off its ability to function.
Speaking on “Sunday Morning Futures”, Bessant revealed that President Donald Trump has ordered the Treasury Department to issue an “economic wrath” targeting Iran’s financial networks, offshore assets and any channels used to fund the Islamic Revolutionary Guard Corps (IRGC).
“This way of thinking about it — we’ve been running a marathon for the last 12 months, and now we’re headed toward the finish line,” Besant said. “We are suffocating the regime and they are not able to pay their soldiers.”
According to Besant, the strategy involved both financial warfare and physical enforcement. The US Navy is actively supporting what he described as a “literal blockade”, while Treasury officials are aggressively tracking and seizing Iranian assets around the world. He accused the IRGC of long-standing corruption, saying it “has been stealing from the Iranian people for years,” and pledged that the recovered funds would eventually be preserved for the Iranian people.
Besant also warned that Iran’s oil sector was on the verge of collapse. With storage facilities filling up rapidly and exports disrupted, the regime may soon be forced to shut down oil wells. He suggested that this pressure could spread to global markets, ultimately driving down oil prices as non-Iranian supply increases.
“The futures market is already indicating lower prices months out,” Besant said. He said hundreds of oil tankers were waiting in the area to deliver supplies after restrictions were eased.
He further indicated that several Gulf countries have quietly assisted the United States in identifying Iranian financial assets, particularly after what he described as Tehran’s “miscalculation” in attacking neighboring countries.
The escalating pressure campaign outlines a broader US strategy to bring Iran back to the negotiating table while weakening its regional influence – a move that could reshape both Middle Eastern geopolitics and global energy markets in the coming months.
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