What happened
The Iranian economy is on the brink of collapse, according to U.S. Treasury Secretary Scott Bessent. In a recent interview, Bessent predicted that Iran's economy will likely collapse within the next two weeks due to a combination of factors, including a U.S. naval blockade on Iranian oil and new sanctions imposed since the start of the war in February.
The Iranian rial currency has fallen to a record low, with traders exchanging over 2.5 million rials for one U.S. dollar. This marks a significant decline in the currency's value, which has repeatedly reached new lows since the war began. The economic troubles are attributed to the blockade and sanctions, which have severely limited Iran's ability to trade and access foreign currency.
Bessent's comments come as part of the Trump administration's economic campaign against Iran, dubbed
