The Trump administration is preparing to turn Tehran’s own oil against it in what looks like a bold economic maneuver amid the ongoing U.S.-Israel conflict with Iran.
The move, discussed in a Fox Business interview on “Mornings with Maria,” aims to flood global markets with additional supply and significantly reduce soaring energy costs triggered by disruptions in the Persian Gulf.
Bessent described the strategy as using “the Iranian barrels against the Iranians” to keep prices suppressed for the next 10 to 14 days while military pressure continues.
“In the coming days, we may unsanction the Iranian oil that’s on the water. It’s about 140 million barrels,” Bessent said. “So, depending on how you count it, that’s 10 days to two weeks of supply that the Iranians had been pushing out, which would have all gone to China.
“In essence, we’d be using the Iranian barrels against the Iranians to keep the price down… as we pursue this campaign. So, we have lots of levers.”
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Oil prices have remained above $100 per barrel in recent weeks, prompted by fears over the Strait of Hormuz, a critical chokepoint for roughly one-fifth of the world’s daily crude shipments.
The conflict has halted commercial traffic in parts of the waterway, though the U.S. has allowed Iranian tankers to pass through to avoid worsening shortages for global consumers.
By legalizing sales of this floating inventory, much of which was destined for buyers in China, the administration hopes to inject immediate relief into energy markets without fully reversing long-standing sanctions on Iran’s oil sector.
The Treasury chief stressed that this would be a narrow, temporary step, not a broad policy shift. It follows similar short-term waivers granted for Russian oil shipments earlier this month.
The move shows the White House’s target to balance wartime goals with domestic and global concerns over gasoline prices and inflation.
President Donald Trump has been emphasising energy leadership and keeping fuel affordable for American families.
His administration officials argue that flooding the market with sanctioned Iranian crude would undercut Tehran’s revenue at current high prices, since greater supply typically pushes values lower.
If Trump goes ahead and executes this plan, then Iran, which heavily relies on oil exports to fund its government and military activities, would see diminished returns even as its product reaches buyers.
However, Trump’s plan may not get a smooth ride; it is expected to spark sharp reactions from international economic specialists because it could send mixed signals or inadvertently kill Iran’s economy in the short run.
Apart from using Iran’s own oil to lower the market price, Bessent also noted that the U.S. holds additional tools, including potential releases from the Strategic Petroleum Reserve and coordination with allies, to ensure Americans are not affected any longer.
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The International Energy Agency has already signaled plans for collective emergency stockpile draws to stabilize markets.
With reports of significant damage to Iranian military capabilities, the U.S.Treasury’s focus on economic warfare sheds more light on Washington’s multi-pronged strategy.
It is clear that by weaponizing Iran’s own resources, the administration intends to inflict financial pain on Tehran without directly escalating toward wider energy infrastructure strikes.
The coming days will tell whether this unconventional move by the Trump administration strikes the intended double blow: cheaper gas at American gas pumps and greater pressure on the Iranian regime.
Meanwhile, energy traders and people around the world are attentively observing as another piece is added to this global game of international chess.
