What happened
Treasury Secretary Scott Bessent has warned that Iran's economy will have nothing left to trade in about two weeks. This is because the country is expected to make its final oil deliveries, leaving it with no remaining balance to trade.
According to Bessent, Iran has only 15 million more barrels of oil on the water, which will be delivered to China. After this, the country will have no oil left to trade, putting significant pressure on its already collapsing economy.
The US has implemented a blockade around Iran, cutting off vessels from entering or leaving the country. This, combined with Operation Economic Outcast, has tightened the screws on the regime, targeting foreign countries and companies doing business with it.
Iran has proposed a seven-day ceasefire in exchange for the US unfreezing frozen assets, lifting the blockade, and easing sanctions. However, President Trump has rejected this proposal, stating that it is not acceptable.
Bessent has emphasized that Iran is isolated from the world and is a pariah state. He believes that when Iran comes to negotiate a deal, it will be because it is on its knees and has no other choice.
