Treasury chief says U.S. blockade and sanctions are crippling Iran's oil flow

During an appearance on a political talk show, Treasury Secretary Scott Bessent praised the impact of the United States' dual approach of a naval blockade and sweeping sanctions against Iran. He labeled the initiative Operation Economic Outcast, calling it the greatest economic isolation campaign in history. According to Bessent, the blockade has halted most Iranian oil from leaving the Strait of Hormuz, leaving roughly 30 million barrels still unsold to China.

He warned that this remaining stock will soon be exhausted, eliminating any opportunity for China to purchase Iranian crude. Bessent argued that the combination of blockade and sanctions constitutes a historic "one-two punch" that is asphyxiating the Iranian regime. The remarks were made in response to questions about U.S.-China coordination on navigating the Hormuz shipping lane.