US Treasury Secretary Scott Bessent said on Sunday that only 15 million barrels of Iranian oil remain on the water, adding that Iran would make its last deliveries to China “probably in the next two weeks” and then have nothing left to trade. Bessent argued that economic pressure from US sanctions and the naval blockade of Iranian ports was why Tehran wanted a deal, saying Iran was “on its knees.”
Referring to Iran’s offer to reopen the Strait of Hormuz as part of an agreement, Bessent said: “The Iranians say they will open the straits if a deal is reached. The straits are already open.”
Speaking to reporters on the South Lawn of the White House, President Donald Trump said: “Last night, we took a record amount of oil out of the Hormuz Strait, more than we took out before the war.” He did not specify the volume. Trump said oil was now cheaper than under the Biden administration and predicted prices would come “plummeting down” once the war ends.
On Saturday, Trump rejected Iran’s seven-day plan, under which Tehran would reopen the strait and resume nuclear talks in exchange for the lifting of the US naval blockade, sanctions waivers on its oil sales and a ceasefire including Lebanon. “They want to make a deal where they open the strait immediately because they are losing so badly,” he said.
In the same remarks, Trump claimed that “we no longer have to worry about nuclear weapons with Iran because they’re wiped out,” and said that “with the exception of oil, everything is going down.” He added that oil would “come dropping down as soon as Iran gives up, as soon as the war is over, which will be soon.” Critics disputed his claims about falling prices.
