U.S. Treasury Secretary Scott Bessent described an “absolute isolation campaign” against Iran that combines naval blockades, travel restrictions and efforts to close land routes with a plan to seize about $1 billion in cryptocurrency. He framed the Trump administration’s approach as a move beyond financial sanctions, aimed at cutting the ruling regime off from international markets, transportation and financial resources.
Key takeaways
Bessent described an Iran campaign extending beyond financial sanctions.The administration is targeting roughly $1 billion in Iranian cryptocurrency.Bessent predicted a complete halt to Iran’s oil exports.Washington is working with regional partners on overland restrictions.
Yahoo News reported that Bessent detailed these measures on Thursday, when he spoke with Greta Van Susteren at Newsmax’s NPolicy Summit in Washington, D.C., addressing questions about the extent to which U.S. sanctions were tightening the squeeze on Iran’s economy.
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U.S. Treasury Secretary Scott Bessent outlines broader isolation
Bessent described a strategy that combines financial pressure with military and maritime measures to quarantine Iran’s ruling regime. The stated goal extends beyond restricting its finances to blocking access to transportation and international markets.
“We did have a maximum pressure campaign. Now we have an absolute isolation campaign and it’s working,” he told Van Susteren.
The measures he outlined include naval blockades, restrictions on international flights and efforts to close routes over land. Bessent said the administration had already isolated Iran economically and presented the broader campaign as producing results.
Oil exports and regime officials face restrictions
Bessent predicted that the blockades and restrictions would bring Iran’s oil exports to a complete halt. He described military action and maritime blockades as parts of the effort to shut down those exports.
“For the first time ever since they started pumping oil, the history of Iran, they will have no oil on the water for sale,” he said.
U.S. Treasury Secretary Scott Bessent also claimed the measures were creating panic within the Islamic Revolutionary Guard Corps (IRGC). Citing a New York Times report, he said the IRGC “is now panicking amongst themselves.”
Air travel restrictions, in his account, prevent Iranian officials and regime-connected elites from leaving for personal trips or to access money abroad. He suggested that keeping those officials inside Iran would exert psychological pressure on the leadership.
Regional cooperation and the cryptocurrency seizure plan
Washington is working with regional partners to restrict land routes while targeting Iranian assets outside the traditional banking system. Bessent identified the United Arab Emirates and Oman as cooperating partners and said the administration was working with Pakistan and Turkey on overland closures.
“UAE has been a good partner. Oman has been a good partner. We’re working with Pakistan and Turkey to cut off all the land routes,” he said.
The cryptocurrency seizure remained a prospective action in his remarks. “We’re probably gonna seize a billion dollars of crypto this week,” Bessent said.
He added that the administration knew where the cryptocurrency was located: “And, you know, we know where it is and we are isolating them.”
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.