Treasury Secretary Scott Bessent appeared on CNBC on Monday to address rising oil prices amid tensions with Iran. He outlined the administration's strategy to neutralize Iran's military capabilities and manage global oil supply disruptions. Bessent also defended a temporary waiver on Russian oil sanctions.
On Monday, U.S. Treasury Secretary Scott Bessent spoke on CNBC about the current situation in global energy markets, with U.S.-traded oil reaching $100 per barrel for only the third time in a decade. He described the focus on the 'head of the snake' in Tehran and stated that President Trump aims to 'degrade and destroy the capabilities, the military capabilities of the regime, to destroy the Navy, which is done, the Air Force, which is done.' Bessent noted that bombing campaigns are now targeting factories to prevent recreation of these assets, calling it a 'generational opportunity to end this.'
