The United States will overthrow the Iranian economy by excluding its oil industry, says the Minister of Treasury

President Donald Trump’s sanctions against Iran are designed to extinguish the oil industry in the country and “demolish its already economy of prohibition,” Scott Beasent Minister said on Thursday.

The US is aggressively arranging sanctions against Iran because of “the immediate maximum influence,” Bessent told New York Economic Club. Trump’s goal is to reduce Iranian oil exports of 1.5 million barrels per panel, the finance minister said.

“We will turn off the Iranian oil sector and drone production options,” Bessent said. The administration also intends to interrupt the Tehran approach to the international financial system, he said.

Prices for American raw oil and global benchmarks have become positive after Bessent’s comments. The middle part of the Western Texas rose by 6 percent to $ 66.37 per barrel until 13:03 ET, while Brent got $ 16 cents at $ 69.46.

“Iran’s development will again mark the beginning of our updated sanction policy,” said Finance Minister, a former global investment manager. “If I were Iran, I would now get all my money out of Riala,” he said.

Trump again imposed his pressure campaign on Iran through a presidential memorandum 4 February two days later the Ministry of Finance began Imposing sanctions at the international network delivery of Iranian oil to China.

Oil prices on Wednesday have fallen to many years, because Trump’s tariffs against Canada, Mexico and China have set the fear of investors that economic growth will slow down, and demand for rough demand will collapse. The OPEC+ also confirmed this week that it would gradually return 2.2 million barrels a day to the market starting with April.

The oil market currently sees a decline in Iranian supply as the only Bikovo catalyst for prices, analysts analysts JP Morgan who led Natasha Kaneva in a note on Thursday.

Trump, after launching his maximum pressure campaign, said he wanted to negotiate a nuclear agreement with Iran. The president said he hoped that maximum pressure “would not have to be used at all to any extent.”

“I would like a much more certified Nuclear Peace Agreement, which Iran will allow Iran to grow calm and progress peacefully,” Trump said in the Social Media post on February 5, 2018, the President withdrew from the US from A common comprehensive plan of action Nuclear Agreement negotiated by former President Barack Obama.