‘Iran’s economy on the precipice of extreme calamity,’ says White House economic adviser
&imwidth=600&imheight=450&format=webp&quality=medium "‘Iran’s economy on the precipice of extreme calamity,’ says White House economic adviser")
An Iranian cleric walks past an anti-US billboard showing President Donald Trump and the Strait of Hormuz. Photograph: (AFP)
Treasury Secretary Scott Bessent said the Iranian leadership is corrupt and has been stealing from the Iranian people for years. They have money offshore. We will continue to track it, and we are going to preserve those assets for the Iranian people on the other side of this conflict.
A top White House economic adviser said on Sunday that the US naval blockade is working and putting an enormous amount of pressure on Iran which is experiencing “hyperinflation and starting to have hunger.”
“Their economy is on the precipice of extreme calamity,” added Director of the White House National Economic Council Kevin Hassett.
Asked about President Donald Trump’s recent mixed messages on the state of the war with Iran and the message it’s sending the market, Hassett said “the market has been pretty consistent,” while stressing that the US’ posture is putting pressure on Iran.
“The fact is that what the president is seeing is that the blockade is working, it’s putting an enormous amount of pressure on Iran,” Hassett said on ‘Face the Nation with Margaret Brennan’.
When asked whether the US is still at war with Iran, Hassett said, “I don’t know what the definition of war is when we’re not shooting and we’re negotiating and they’re under a lot of pressure.”
“There’s no reason, I think, right now, to do anything other than what we’re doing,” Hassett said.
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‘Iran experiencing hyperinflation, starting to have hunger’
The top White House economic adviser said Iran’s threats to put mines in the Strait of Hormuz have prevented humanitarian aid for the Islamic Republic from getting through, claiming that its economy is “on the precipice of extreme calamity.”
He said they are experiencing “hyperinflation” and “they’re starting to have hunger.”
Meanwhile, on high gas prices being felt by Americans, Hassett said, “We are doing an all-of-the-above approach to get energy to Americans and increase energy production around the world.”
“We’re doing everything we can to make the temporary increase as small as possible,” he added.
Economic blockade ‘suffocating’ Iran: Treasury chief Scott Bessent
Treasury Secretary Scott Bessent said Sunday that the United States is “suffocating” Iran’s leadership through an “economic blockade” launched alongside the US military offensive.
“This began with the order last March from President Trump on max pressure, and three weeks ago the President gave the order to Treasury and myself to begin Economic Fury,” Bessent said in a Fox News interview.
“We are suffocating the regime, and they are not able to pay their soldiers. This is a real economic blockade, and it is in all parts of government—all hands on deck,” Bessent said.
The treasury department was imposing economic measures “on anyone trying to remit money into Iran to help the IRGC,” Iran’s elite military force.
“They are a corrupt institution. They have been stealing from the Iranian people for years. They have money offshore. We have tracked that down. We will continue to track that down, and we are going to preserve those assets for the Iranian people on the other side of this conflict,” he said.
