US Treasury chief says Iranian ports blockade is working in putting pressure on Iran's economy

US Treasury Secretary Scott Bessent has described the month-long blockade on Iranian ports as a “resounding success”, claiming it is putting major pressure on Tehran’s economy and military operations.

Speaking to CNBC, Bessent said the United States strategy was focused on weakening Iran through economic pressure rather than direct military escalation.

“None of their ships are getting out, none are coming in, so they’re not able to store oil on the waters, so they’re going to start shutting down production,” he alleged.

Bessent said the restrictions were affecting Iran’s ability to fund its armed forces and replenish military supplies during the ongoing conflict in the region.

“We believe we’re at the point where soldiers aren’t getting paid. They’re not able to replenish their weapons stocks from abroad. So I think that they are on their last legs.”

The comments come as tensions remain high between Iran, the United States and Israel, with Washington maintaining pressure on Tehran over its nuclear programme and military activities.

The blockade has disrupted shipping routes and oil exports linked to Iran, while concerns continue to grow globally about energy supplies and rising fuel prices linked to instability in the Middle East.