Bisent: Iran Lacks Oil Revenue This Week

U.S. Treasury Secretary Scott Bissent stated that Iran will not have any oil shipments at sea this week and will not generate revenue from oil exports, amid unprecedented economic sanctions imposed by the United States. He explained that military operations destroyed by the Iranian navy and air forces have exhausted their drone and missile capabilities, preventing their reconstruction. Meanwhile, Washington is transitioning from military actions to imposing blockades and a "steel wall." Bissent forecasted that these measures, along with G7 countries releasing 100 million barrels of oil from their reserves in the coming months, will support energy market stability and lead to a decline in oil prices, with expectations that prices will return to pre-conflict levels with Iran or lower.