Sarmad: Iran Has No Oil Shipments This Week... No Revenues - Sarmad
US Treasury Secretary Scott Bessent said Iran will have no oil shipments at sea this week and will generate no revenue from them, amid what he described as an “unprecedented” US economic isolation.
In an interview with Axios, Bessent added, “For the first time in history—since they began pumping oil—they will have no oil shipments at sea this week and will not generate any revenue.”
He said Washington had moved from direct military operations to imposing a blockade, and then to what he termed an “economic isolation operation.”
Bessent said military operations had destroyed Iran’s naval and air forces and significantly depleted Tehran’s capabilities in drones and missiles, eliminating any chances of rebuilding those capabilities, according to his remarks.
He clarified that the next phase involved what US President Donald Trump calls the “Iron Wall” and the imposition of a blockade, describing it as a measure the United States had never previously resorted to.
Regarding the conflict’s impact on energy markets, Bessent said, “We will get past the fallout from the conflict with Iran. I believe oil supplies will improve and become more abundant, which will lead to lower prices.”
On Friday, US President Donald Trump said Iran is “not in good shape,” predicting the war would end soon and oil prices would return to pre-conflict levels.
Speaking to reporters at the White House, Trump said that “once the Iran issue is resolved,” oil prices would return to their pre-war normal levels, and might even fall below them, according to his remarks.
The US president praised European countries’ decision to draw diesel from their reserves in an effort to curb rising energy prices, while downplaying the likelihood of a US ban on diesel exports.
Leaders of the Group of Seven had previously agreed to release 100 million barrels of diesel and crude oil from their strategic reserves into markets over the next four months.
According to a statement by French President Emmanuel Macron, the move aims to curb the rise in energy prices caused by the war in Iran.
