United States Treasury Secretary Scott Bessent claimed on Thursday that Iranian crude oil loadings dropped to zero in September.
Bessent wrote in a post on X that “Iran loaded ZERO crude oil onto tankers in September.”
The US naval blockade, which Bessent claimed is severing Tehran “economic lifeline,” limits the country’s access to energy markets.
Bessent linked the development to the Trump administration’s “Operation Economic Outcast.”
Treasury Secretary Bessent predicted that Iran will complete its remaining oil shipments to China within two weeks, leaving Tehran with “nothing left to trade for anything” as the Trump administration intensifies its economic pressure campaign against Tehran.
“They will have nothing to trade for anything, probably within the next two weeks. They are going to make their final deliveries of oil to China, and then they will have nothing,” he said.
Bessent said only about 15 million barrels of Iranian oil remain out for delivery now, describing the dwindling shipments as evidence that Operation Economic Outcast has left Tehran economically isolated.
“We’re averaging now 15 to 22 million barrels a day. It was at about 20 pre-conflict,” he said to Fox News ‘Sunday Morning Futures’ last week. “The score is the United States, one billion – more than one billion barrels have gotten out – Iran, zero.”
The Treasury chief said he believed Iran was “feeling the pressure,” leading to their renewed interest in striking a deal.
The point of Operation Economic Outcast is to ensure that Iran adheres to the terms of a potential future deal, Bessent added.
“My job is to make sure that, when they come with a deal, that they want to stick to it. They did not stick to the MOU [Memorandum of Understanding]. And, next time, if there is a deal – that’s at President Trump’s discretion – that they will stick to it.”
The Treasury chief has also urged European partners to accelerate delivery on existing commitments and make additional supplies immediately available to address ongoing disruptions in the energy market.
He emphasized that American farmers, truckers, and businesses should not be burdened by a global diesel shortage, urging them to rely on their European allies for support.
Bessent noted that under President Trump’s leadership, the United States is delivering on its commitments to help stabilize global energy markets.
“Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions. American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage. America is doing its part. We look to our allies to match their commitments with action,” he said.
On Thursday, U.S. Energy Secretary Chris Wright told Fox News that he was completely confident in Europe’s ability to help curb the sharp rise in global fuel prices by using emergency diesel fuel reserves.
“Europe can help the situation as well, and I’m highly confident they will. This is a time for a coordinated release of diesel stores as we go into to harvest season and we go into winter heating oil season. Now’s the time to bring more diesel to the market, and that diesel is available. I think we have some positive news coming,” Wright said.
