Trump Claims Iran ‘Ready to Fold’ Amid Oil Cutoff
Trump and Bessent report Iran’s oil exports are at zero, signaling economic collapse.
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President Donald Trump claimed Thursday that Iran is ‘ready to fold up,’ citing Treasury Secretary Scott Bessent’s announcement that Tehran loaded ‘ZERO’ crude oil onto tankers in September. The administration’s campaign to cut off Iran’s most critical revenue source has intensified, with officials warning of a dire economic situation for the regime.
Iran’s Oil Exports at Zero
Bessent stated that the Iranian regime has not loaded any crude oil onto tankers since September, signaling a significant shift in the economic landscape. The Trump administration has been working to sever Iran’s access to international markets, aiming to cripple its ability to fund its nuclear program and support its militant activities.
The September data is particularly significant as Iran is also depleting its existing oil reserves, with Bessent estimating only about 15 million barrels of crude remain on the water. He predicted that Tehran would make its final deliveries to China within two weeks, leaving the regime without oil to trade for the revenue its battered economy increasingly needs.
Strait of Hormuz Blockade
The administration’s strategy includes turning Iran’s attempt to close the Strait of Hormuz against it, restoring international commercial traffic while maintaining a naval blockade against Iranian oil exports. CENTCOM reported that U.S. forces had supported over 2,000 commercial transits carrying more than one billion barrels of Gulf crude through the waterway, while Iranian oil exports remained at zero.
Trump emphasized that the U.S. is continuing to move Gulf oil through the waterway, even as Iranian shipments remain blocked. ‘Iran hasn’t had one ship get through. Not one ship in months,’ he said, while noting that the United States is moving ‘millions and millions of barrels of oil, in some cases more than before the war.’
Iran’s Economic Collapse
The loss of oil revenue has coincided with a deepening currency crisis in Iran, with the rial plummeting to record lows. Bessent attributed this to the administration’s campaign, stating that ‘Operation Economic Outcast’ has caused the rial to hit record lows. Trump echoed this sentiment, claiming that Iran’s currency is ‘valueless’ and that the regime has ‘no money.’
The administration has also expanded its economic campaign to target Iran’s failing industrial infrastructure, including its automotive, rail, manufacturing, and metals sectors. Treasury officials noted that dwindling oil revenues have left Tehran increasingly dependent on these industries for revenue and logistical capacity, making them the next focus of the administration’s efforts to isolate the regime.
Trump’s Stance on Negotiations
Despite Iran’s weakened position, Trump has not shown any willingness to accept terms he previously considered unacceptable. He rejected Iran’s latest proposal for reopening the Strait of Hormuz, calling it ‘just not good enough.’ Bessent emphasized that the administration’s goal is to preserve leverage to ensure any deal is honored, stating that ‘next time, if there is a deal… they will stick to it.’
Source: Breitbart
