Bessent: Iran Has No Oil Shipments This Week Amid Comprehensive Economic Isolation

US Treasury Secretary Scott Bessent said that Iran will not have any oil shipments at sea this week, nor will it generate revenue from them, under what he described as an "unprecedented" US economic isolation.

Bessent added in an interview with the "Axios" website: "For the first time in history - since they began pumping oil - they will not have any oil shipments at sea this week, and they will not achieve any revenues."

He added that Washington has moved from direct military operations to imposing a blockade, then to what he described as an "economic isolation operation."

He said that military operations destroyed Iran's naval and air forces and significantly depleted Tehran's capabilities in the field of drones and missiles, eliminating opportunities to rebuild those capabilities, according to his expression.

He clarified that the next phase included what the US President calls the "Iron Wall" and imposing a blockade, describing it as a measure the United States had never resorted to before.

Regarding the implications of the conflict on the energy market, Bessent said: "We will overcome the repercussions of the conflict with Iran, as I believe oil supplies will improve and become more abundant, which will lead to lower prices."