{"id":709,"date":"2026-05-28T14:36:32","date_gmt":"2026-05-28T14:36:32","guid":{"rendered":"https:\/\/homebuyerrelocation.com\/?p=709"},"modified":"2026-05-28T14:36:32","modified_gmt":"2026-05-28T14:36:32","slug":"bessent-says-irans-economy-is-in-free-fall-and-u-s-will-target-iranian-airlines-next","status":"publish","type":"post","link":"https:\/\/homebuyerrelocation.com\/?p=709","title":{"rendered":"Bessent says Iran\u2019s economy is in \u2018free fall\u2019 and U.S. will target Iranian airlines next"},"content":{"rendered":"
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Treasury Secretary Scott Bessent on Thursday said Iran must satisfy U.S. demands in peace negotiations to \u201cend the downward spiral\u201d of its economy.<\/p>\n

Read more Coming soon to a sky near you: Electric planes and autonomous flight<\/a><\/p>\n

Mr. Bessent said the U.S. Navy formed a \u201cwall of steel\u201d around Iran to thwart the regime from exporting oil and gaining critical revenue. He said the pressure from President Trump\u2019s blockade is obvious throughout Iran.<\/p>\n

\u201cTheir troops are not getting paid, the police are not reporting for work, and Kharg Island is shut down. The Iranian economy and currency are in free fall,\u201d Mr. Bessent said on social media.<\/p>\n

Kharg Island is a critical oil depot in the Persian Gulf off the Iranian coast.<\/p>\n

Mr. Trump imposed his blockade of Iran to squeeze the Islamic republican economically and bring the regime to the negotiating table. It\u2019s also a response to Tehran\u2019s decision to block maritime traffic in the Strait of Hormuz, a critical chokepoint for oil shipments.<\/p>\n

Mr. Bessent said the Treasury Department is sanctioning anyone who cooperates with the Persian Gulf Strait Authority, an entity Tehran set up to control strait traffic and collect tolls.<\/p>\n\n

<\/p>\n

SEE ALSO: Trump declares Strait of Hormuz must remain open in peace deal<\/p>\n

<\/strong><\/p>\n\n

Administration officials and global leaders say the Strait of Hormuz is an international waterway, so Iranian attempts to control it and impose tolls are illegitimate.<\/p>\n

\u201cIran\u2019s Persian Gulf Strait Authority (PGSA) is a joke, and today Treasury has sanctioned it,\u201d Mr. Bessent said on X. \u201cWe have warned any corporate or state entities against paying tolls or hiding them as aid payments.\u201d<\/p>\n

Mr. Bessent said moving forward, the U.S. will shut down Iranian airlines\u2019 access to landing spots, refuelling and ticket sales.<\/p>\n

Read more U.S. military confirms Iran launched attacks at Kuwait in further test of ceasefire<\/a><\/p>\n

\u201cOnly a satisfactory outcome in negotiations will end the downward spiral,\u201d he said.<\/p>\n

Mr. Trump launched Operation Epic Fury against Iran on Feb. 28 to prevent it from gaining a nuclear weapon, constrain its missile program and stop its support for terror proxies in the Middle East.<\/p>\n

Early strikes killed top Iranian leaders and decimated the Islamic republic\u2019s military. Both sides entered a ceasefire in early April to allow space for peace talks, though it has been difficult for the sides to reach a pact that satisfies Mr. Trump\u2019s demands.<\/p>\n

<\/p>\n

SEE ALSO: U.S. military confirms Iran launched attacks at Kuwait in further test of ceasefire<\/p>\n

<\/strong><\/p>\n

The countries are negotiating a pact that reopens the Strait of Hormuz and sets a timeline for talks on Iran\u2019s nuclear ambitions, though disturbances in the region threaten the negotiations.<\/p>\n

The U.S. military said Iran launched ballistic missiles toward Kuwait on Wednesday as retaliation for defensive U.S. strikes on southern Iran earlier in the week.<\/p>\n

Read more DOJ sues four Democrat-led states that block ICE from registering undercover vehicles<\/a><\/p>\n

The American side called it an \u201cegregious\u201d violation of the ceasefire.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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