US Treasury Secretary Bessent Confirms Strategy to Create Dollar Shortage in Iran
WASHINGTON — United States Treasury Secretary Scott Bessent has openly acknowledged that Washington’s sanctions strategy against Iran is deliberately designed to manufacture a severe scarcity of US dollars within the country, a policy he claims precipitated a major financial crisis in Tehran late last year.
Speaking to lawmakers during a hearing with the House Financial Services Committee, Secretary Bessent provided a detailed assessment of the administration’s “maximum pressure” campaign. He described the economic measures as a form of “economic statecraft” intended to destabilize the Iranian economy without resorting to direct military conflict. According to Bessent, the culmination of these efforts was witnessed in December, when one of Iran’s largest financial institutions collapsed, triggering a widespread panic among depositors.
“What we can do and what we have done is create a dollar shortage in the country,” Bessent stated during his testimony. “This strategy reached a rapid and spectacular climax in December with the failure of one of the largest banks in Iran. There was a run on the bank.”
The Treasury Secretary explained that the liquidity crisis forced the Central Bank of Iran to intervene drastically. To prevent a total systemic collapse, Iranian regulators were reportedly compelled to print massive amounts of local currency to bail out the failing institution. Bessent noted that this injection of liquidity has severely exacerbated inflation, driving up the cost of imports and goods, which in turn has fueled public discontent.
“The central bank has started to print money. There is a dollar shortage. They are not able to get imports, and this is why the people took to the streets,” Bessent added, linking the recent wave of civil unrest in Iran directly to the economic squeeze applied by the United States. He characterized the outcome as a strategic success, emphasizing that the financial turbulence was achieved with “no shots fired.”
Market analysts indicate that the rial has suffered significant devaluation in recent months, complicating Tehran’s ability to engage in international trade. The shortage of hard currency has reportedly left importers unable to secure necessary goods, creating supply chain bottlenecks that have further agitated the Iranian public.
The Treasury’s remarks signal a continuation and intensification of financial isolation tactics as a primary tool of US foreign policy in the region. While Iranian officials have denounced the sanctions as economic warfare affecting civilians, the US administration maintains that the measures are necessary to curb Tehran’s regional influence and nuclear ambitions. The hearing concluded with Bessent affirming that the Treasury would continue to monitor the situation closely to ensure the pressure remains effective.
* isna.ir
* newkerala.com
* ianslive.in
* iranpress.com
* iranintl.com
* jpost.com
