Running away fast
US Treasury Secretary Bessent: Iranian Leaders Are 'Rats Fleeing the Ship' with Millions in Assets
Iran's economy, already battered by inflation exceeding 50% and currency devaluation, is described by Bessent as "on the ropes," with sanctions eroding what was once a relatively affluent society.
In a stark assessment of Iran's ongoing turmoil, US Treasury Secretary Scott Bessent revealed that the department is monitoring a massive outflow of funds from the Islamic Republic, signaling desperation among its leadership amid widespread anti-regime protests.
Speaking in an interview with Newsmax, Bessent described the situation as "rats fleeing the ship," highlighting how sanctions are exposing the regime's vulnerabilities as elites smuggle tens of millions abroad.
“And the other thing, as Treasury who carries out the sanctions, we can see is we are now seeing the rats fleeing the ship because we can see millions, tens of millions of dollars being wired out of the country, snuck out of the country by the Iranian leadership. So they are abandoning ship, and we are seeing it come into banks and financial institutions all over the world,” Bessent stated.
This capital flight, Bessent noted, is a direct result of intensified US sanctions under the Trump administration's renewed "Maximum Pressure" campaign, which aims to cripple Iran's funding for terrorism, nuclear ambitions, and human rights abuses.
Emphasizing the Treasury's role in enforcement, Bessent affirmed that the US will not allow these funds to escape accountability. He added that the US intends to trace and seize these funds: “We are going to trace these assets and they will not be able to keep them. What we do at Treasury is we follow the money, whether it is through the banking system or through digital assets.”
This pursuit includes monitoring traditional banking channels as well as cryptocurrencies, which Iran has increasingly used to evade sanctions.
Reports indicate Iranian officials have funneled billions through informal networks in places like the UAE and Hong Kong, but recent withholdings by these intermediaries have exacerbated currency fluctuations, fueling the protests.
Analysts suggest this financial exodus could accelerate the regime's instability, potentially leading to a leadership vacuum or negotiated reforms. However, Iranian officials have dismissed the claims, labeling them as propaganda while threatening retaliation against US interests.