US Treasury chief says Iran’s oil industry is 'starting to shut'

US Treasury chief says Iran’s oil industry is 'starting to shut' US Treasury Secretary Scott Bessent said Washington would intensify economic pressure on Iran, warning that the country’s oil sector is under strain due to the US blockade. Bessent wrote in a post on X: "While the surviving IRGC Leaders are trapped like drowning rats in a sewage pipe, Iran’s creaking oil industry is starting to shut in production thanks to the U. S.