Iran’s economy ’on the verge of collapse’: US Treasury Secretary

US Treasury Secretary Scott Besant has said that the US naval blockade of Iranian ports will further weaken the country's economy. He made the claim in a post on social media. Al Jazeera

Besant claimed that in the last 14 days, the United States has helped transport 130 million barrels of oil through the Gulf, while Iran has not been able to transport any oil.

He wrote, "The naval blockade and 'Operation Economic Outcast' will destroy Iran's weak economy."

Besant also said, "In the last 14 days, the United States has helped export 130 million barrels of oil. Iran: zero."

His statement made clear Washington's tough stance on further increasing economic pressure on Iran.

Meanwhile, the United States will increase pressure on allies and partners to isolate Iran economically at a crucial G-20 meeting next week. US Treasury Secretary Scott Besant will discuss the issue directly with G-20 members, a US official said.

The British news agency Reuters reported that G-20 finance ministers and central bank governors will meet in the mountain town of Asheville, North Carolina, on Monday and Tuesday. This is the first of the upcoming G-20 ministerial meetings. These meetings will advance preparations for the G-20 summit to be hosted by President Donald Trump in Florida in December.

A US Treasury Department official told reporters that US officials will highlight the importance of G20 members complying with US sanctions as part of increasing pressure on Iran.