Iran's Oil Lifeline to China to End in Two Weeks, Treasury Secretary Says

Treasury Secretary Scott Bessent predicted Sunday that Iran will complete its remaining oil shipments to China within two weeks, leaving Tehran with "nothing left to trade for anything" as the Trump administration intensifies its economic pressure campaign against the regime. The U.S. is currently blockading Iranian ports, and approximately 15 million barrels of oil remain for delivery, according to Bessent.

"They will have nothing to trade for anything, probably within the next two weeks. They are going to make their final deliveries of oil to China, and then they will have nothing," Bessent said.

Bessent indicated that Iran is feeling the economic pressure, which he believes has renewed Tehran's interest in negotiations. President Donald Trump, however, rejected Iran's most recent proposal, telling Axios that "they overplayed their hand."

"I expect more talks with Iran [this week]," Trump told the outlet. "They want to make a deal, but it is not the deal that I want to make. It is what we would have maybe agreed to a year ago. They overplayed their hand."

Bessent emphasized that the point of Operation Economic Outcast is to ensure Iran adheres to the terms of any future deal. "They are isolated from the world. They're a pariah state. And my job is to make sure that, when they come with a deal, that they want to stick to it. They did not stick to the MOU [Memorandum of Understanding]. And, next time, if there is a deal — that's at President Trump's discretion — that they will stick to it, because they are on their knees."

Bessent also commented on the strength of the U.S. economy, highlighting wage increases, business growth, and the impact of tax cuts on American families. He also discussed trade negotiations with China, noting a recently agreed-upon tariff cut of $30 billion. The Strait of Hormuz, a critical global oil shipping route, remains open, with Bessent stating that daily oil shipments average between 15 and 22 million barrels, comparable to pre-conflict levels. "The score is the United States, one billion — more than one billion barrels have gotten out — Iran, zero," he asserted.