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Bessent at G20: Iran feels sanctions, lashing out economically
Treasury Secretary Bessent told the G20 that Iran is taking sanctions seriously, lashing out as its economy weakens, and that economic growth is the only way…
31/08/2026 13:213 min read
During the G20 meeting, Treasury Secretary Scott Bessent delivered remarks on Iran and the economy.
- Iran is treating the sanctions with seriousness, Bessent said.
- He added that Iran is resorting to kinetic actions as a result of economic losses.
- The United States will maintain pressure on Iran, he stated.
- Bessent remarked that Iran's economy does not need to collapse; it only needs to come to its senses.
- Real wages are on the rise, according to Bessent.
- The only way to reduce debt is through economic growth, he argued.
Bessent appears to have abandoned cost-cutting measures to reduce the deficit. This implies a move away from lowering interest rates, which would help the deficit, and a full commitment to the economy holding up amid higher oil prices and inflation.
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