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Saturday, Oct 3, 2026

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Bessent Says Iran Will Have No Oil at Sea or Oil Revenue This Week

Treasury Secretary Scott Bessent said Iran would have no oil shipments at sea this week and no associated revenue as the US naval blockade and financial sanctions cut its economic links. “They will have no revenues,” he told The Axios Show in an interview published Saturday, following his earlier estimate that about 15 million barrels remained out for delivery.

Iran loaded no crude onto tankers in September, down from about 250,000 BPD in August, preliminary tanker tracking estimates compiled by Bloomberg showed. Kpler and Vortexa also recorded zero loadings. Kpler analyst Homayoun Falakshahi said no laden tankers had escaped the blockade zone since its reimposition in mid-July. About 20 empty Iranian tankers were stranded off Sri Lanka with food, fuel and fresh water running short, the Wall Street Journal reported.

Iran’s Economy Minister Ali Madanizadeh rejected forecasts of imminent economic collapse. “For years, they have been saying that Iran’s economy will collapse in two weeks or a month. That certainly will not happen,” he said. Richard Goldberg, a senior adviser at the Foundation for Defense of Democracies, called Bessent’s earlier claim that Iran had two weeks of cash left “a pretty bold statement,” saying it was hard to know from outside how much money the government actually had.

Image via @osint613 on X
Continues from Thursday, Sep 24
Bessent Says Iran Is 'On Its Knees' With Only 15 Million Barrels of Oil Left at Sea
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