Bessent: Iranian Leaders Are Transferring Money to Flee the Country

Iran Leaders' Money Laundering Activities

U.S. Treasury Secretary Scott Bessent stated that Iranian officials are transferring large amounts of money out of the country "like crazy," and expressed that this is an indication that Iran's end is near.

Financial Stability Oversight Report

Bessent spoke during a session discussing the annual report of the Financial Stability Oversight Council (FSOC) in the U.S. Senate Banking, Housing, and Urban Affairs Committee. He emphasized that there is a serious dollar crunch in Iran, noting that this situation peaked with the bankruptcy of one of the country's largest banks last December.

Economic Crisis in Iran

Bessent stated that the Iranian Central Bank has had to print money, which has led to a rapid depreciation of the national currency and skyrocketing inflation. These economic upheavals have prompted the public to revolt.

Rats Leaving the Ship

Bessent emphasized that they will continue to monitor Iran closely, stating, "We have seen Iranian leaders trying to launder money, which indicates they are worried about their situation. It's like the rats are leaving the ship!"

Bessent: Trump's Comments a Joke

During the session, when Democratic Senator Elizabeth Warren asked whether Kevin Warsh, a nominee for the U.S. Federal Reserve (Fed) chair, would guarantee that he wouldn't face any legal issues if he did not comply with President Donald Trump’s request for a rate cut, Bessent replied, "It is entirely up to the president." He also referred to Trump's remarks about filing a lawsuit against Warsh if rates were not lowered as "a joke."