U.S. Treasury Secretary Bessent said during a fireside chat at the G20 on Sept. 1 that Washington plans to keep increasing pressure on Iran while also pushing to reduce risks tied to the Strait of Hormuz. He said the U.S. energy sector’s "3-3-3" plan targets barrels of oil equivalent, and that average daily U.S. oil production has risen by 1.6 million to 2.2 million barrels since Trump took office. Bessent also said the Strait of Hormuz would become passable through alternative routes within two years, with oil moved by overland pipelines instead of through the strait.
On Iran, Bessent said 85% to 90% of Iranian factories have rebuilding capacity and that Iran may hold the world’s third-largest energy resources. He added that the U.S. may announce banking sanctions this week and next week, and said it has strong backing from the European Union, the European Central Bank, the U.K., the UAE, and Bahrain. He also said the U.S. will watch aviation leasing companies linked to Iran. In remarks cited in the report, Bessent said the U.S. knows of Iran-linked accounts in the British Virgin Islands and that money stolen from the Iranian people could be returned to them or used to help victims of terrorism.
According to BlockBeats, U.S. Treasury Secretary Bessent used a fireside chat at the G20 on Sept. 1 to address U.S. energy policy, the Strait of Hormuz, and sanctions on Iran.
Bessent said the U.S. energy sector’s "3-3-3" plan is aimed at barrels of oil equivalent. He said average daily U.S. oil production has increased by 1.6 million to 2.2 million barrels since Trump took office.
Hormuz bypass plan
Bessent said risk needs to be reduced and that the Strait of Hormuz will have an alternative route within two years. He said the waterway would then become "a body of water with no value," with oil moved through overland pipelines rather than through the strait.
More sanctions on Iran
On Iran, Bessent said 85% to 90% of Iranian factories have rebuilding capacity and that Iran may have the world’s third-largest energy resources.
He also said the U.S. may announce banking sanctions this week and next week. He said Washington has strong support from the European Union, the European Central Bank, the U.K., the United Arab Emirates, and Bahrain, and described the U.S. position toward Iran as "zero tolerance," adding that it will seek to strangle the country’s development economically. He also said the U.S. will watch aviation leasing companies linked to Iran.
Bessent said: "We know about the accounts in the British Virgin Islands linked to Iran. Money stolen from the Iranian people can be returned to them, and Iranian funds can also be used to help victims of terrorism."
The report cited Jin10 as the source of the remarks.
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