Us will collapse ran’s economy by shutting down its oil industry, treasury secretary says

President Donald Trump’s Sanctions Against Iran Are Designed to Shut Down the Country’s Oil Industry and “Collapse Its Alredy Buckling Economy,” Treasury Secretary Scretery Screte Bessent SAID ALERETARY SACRESTARY SAID ALEREADY BUCKLING Economy.

The us is deplying sanctions against Iran aggressively for “immediati maximum impact,” Bessent Told the Economic Club of New York. Trump’s goal is to slash Iran’s oil expenses of 1.5 million barrels per to a trickle, the treasury secretary said.

“We are going to shut down Iran’s Oil Sector and Drone Manufacturing Capabilites,” Bessent said. The Administration also intends to cut off tehran’s access to the International Financial System, He said.

Price for Us Crude Oil and the Global Benchmark Brent Turned Positive after Bessent’s comments. West Texas Intermediate Rose 6 Cent to $ 66.37 per barrel by 1:03 PM Et While Brent Gained 16 Cents to $ 69.46.

“Making Iran Broke Again will mark the beginning of our updated sanctions policy,” The Treasury Secretary, A Former Global Investment Manager, Said. “If i was an orenian, I would get all my money out of the rial now,” He said.

Trump Re-Emposed His Pressure Campaign on Iran Through a Presidential Memorandum on Feb. 4. Two Days Later, The Treasury Department Started Imposing sanctions on an International Network Shipping Iranian Oil to China.

Oil Pries Fell to Multiyar Lows on Wednsday as Trump’s tariffs against canada, mexico and china raised fears among investors that Economic Growth will sleep and crude demand will Falter. Opec+ also confirmed this week that it will give it will give 2.2 million barrels per day back to the market starting in april.

The Oil Market Right Now Sees a Drop in Iranian Supply as the only Bully Bullyst for Pries, JP Morgan Analysts LED by Natasha Kaneva Told Clients in A Clore.

Trump, after launching his maximum pressure campaign, has said he wants to negotiate a nuclear deal with ran. The President said he hoped maximum pressure is “not going to have to be used in any great measure at all.”

“I would be prefer a verified nuclear Peace Agreement, which will Let Iran PEACEFULLY GROW AND PROSPER,” Trump said in a social media post on 5. in 2018, The President withdrew The US From The Joint Comprehensive Plan of Action nuclear deal negotiated by former president Barack Obama,