Quote:Treasury Secretary Scott Bessent was on “Sunday Morning Futures” with host Maria Bartiromo to discuss economic pressure against Iran.

Secretary Bessent also discussed the state of the US economy, including markets and consumer spending.

“Can you give us an update on the economic choke that you have been putting in place in Iran?” Bartiromo asked.

“This began with the order last March from President Trump on max pressure, and three weeks ago, the President gave the order to Treasury, myself, to begin economic fury,” Bessent said.

“We are suffocating the regime, and they are not able to pay their soldiers,” Bessent said.

“All hands on deck. It is the blockade that our great Navy is doing. No ships are getting through,” Bessent continued.

“We have upped the pressure on anyone trying to remit money into Iran to help the IRGC. They are corrupt institutions. They have been stealing from the Iranian people for years,” Bessent explained.

“Do you think oil prices will be lower before the midterm elections?” Bartiromo asked.

“We can see in the futures market that oil prices are already lower, 3 months, 6 months, 9 months out,” Bessent said.

“There are hundreds of oil tankers waiting in the Gulf to come out. The US is only blockading Iranian ships,” Bessent continued.

Secretary Bessent explained that President Trump’s policies during both of his terms has helped the economy grow steadily.

“Stock market is up in the double digits. You’ve got the economy continuing to grow,” Bartiromo said.

“Mr. Secretary, assess the economy for us, and to what you attribute this resilience?” Bartiromo asked.

“I think it’s a lot of the policies that President Trump put in place in his first term that have continued into the second term,” Bessent commented.

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