When asked, “Do sanctions actually work (on Iran)?”, Bessent replied:
If you look at a speech I gave at the economic club of New York last March, I said that I believe the Iranian currency was on the verge of collapse, that if I were an Iranain citizen, I would take my money out.
President Trump ordered treasury and our OFAC division, (Office of Foreign Asset Control) to put maximum pressure on Iran, and it’s worked because in December, their economy collapsed, we saw a major bank go under, the central bank has started to print money, there is a dollar shortage, they are not able to get imports and this is why the people took to the streets.
When asked, “Do sanctions actually work (on Iran)?”, Bessent replied:
If you look at a speech I gave at the economic club of New York last March, I said that I believe the Iranian currency was on the verge of collapse, that if I were an Iranain citizen, I would take my money out.
President Trump ordered treasury and our OFAC division, (Office of Foreign Asset Control) to put maximum pressure on Iran, and it’s worked because in December, their economy collapsed, we saw a major bank go under, the central bank has started to print money, there is a dollar shortage, they are not able to get imports and this is why the people took to the streets.
He added, “This is economic statecraft, no shots fired, and things are moving in a very positive way here.” https://the307.substack.com/p/at-the-wef-scott-bessent-says-...