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Scott Bessent: “Oil from the Gulf does in fact go to Asia.”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz

Published March 16, 2026 | Video Starts at 07:35

And so by unsanctioning it it can go to Malaysia, Singapore, India. The Indians have bought quite a bit. So it can go to alleviate the shortage because most of the Oil from the Gulf does in fact go to Asia. (07:35–07:39)

CLAIM

Asserts that most oil from the Gulf is exported to Asia.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Scott Bessent

“Iran was the head of the snake for global terrorism everywhere, whether it was through their proxies or, you know, there were Iranian guard…”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 01:08-01:23
“We gave a 30 day waiver for Russian oil that was already on the water. It was about 130 million barrels.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 04:26-04:35
“There was about 20 million a day coming out of the Gulf. That 1.5 of that is the Iranian oil.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 04:45-04:52
“The global spro release largest ever was 400 million barrels.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 06:00-06:06
“President Trump has made it clear that his goal is to degrade and destroy the capabilities, the military capabilities of the regime to…”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 00:33-00:52
“We know exactly who we are fighting against.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 02:12-02:15
“The previous ayatollah did not want his son to become the Ayatollah. He left written instructions and they overrode him.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 02:36-02:45
“We believe that the current Ayatollah is injured. We don't know to what extent and maybe Incapacitated.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 02:44-02:54
“We are seeing more and more the fuel ships start to go through. The Iranian ships have been getting out already and we've let that happen to…”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 03:40-03:52
“The Saudis and UAE have diverted the production into the Red Sea.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 04:55-05:04
“The deficit is about 10 or 14 and that's before any of the ships are coming out of the straits.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 05:29-05:37
“It costs him about 2, 2 billion dollars a day to run the government.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 06:51-06:58
“Oil was going to China. They were going to consume it anyway.”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 07:15-07:20
“The Indians have bought quite a bit [of oil].”
Treasury Secretary Bessent: U.S. is allowing Iranian tankers through Strait of Hormuz | Uploaded March 16, 2026 | 07:26-07:29