Bessent accuses Iran of funding proxies as rial hits record low at 1.37 million per dollar

Treasury Secretary Scott Bessent accused Iran's government of sending billions of dollars to terrorist proxies while Iranian citizens struggle with basic costs, saying the regime should redirect that money to its people. The Iranian rial reached a record low this month, requiring roughly 1.37 million rials to buy $1. The comments form part of Washington's broader "economic D-Day" campaign, which Bessent says aims to "sever every economic lifeline" supporting Tehran. Treasury has separately sanctioned nearly 60 entities, individuals and vessels connected to Iran's nuclear, missile, cyber and oil networks under a campaign called "economic outcast." Iran's Foreign Ministry spokesperson Esmaeil Baqaei accused the United States of "annihilating" international law and engaging in "systemic bullying." Iranian oil loadings fell to 248,000 barrels a day in August from 1.85 million barrels a day in March and April, according to Kpler. Iran and Oman have discussed a temporary navigational corridor through the Strait of Hormuz and agreed to work on mine clearance, while Trump said all mines in the strait's international waters had already been removed or detonated.

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