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Scott Bessent: “Their [Iran's] economy is in free fall.”

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

'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz

Published May 4, 2026 | Video Starts at 00:25

So we are saying the Iranians do not have control of the strait. We, we have absolute control of the strait. We have blockaded the ships going into or out of Iranian ports. Their [Iran's] economy is in free fall. And everyone says they have a high tolerance for pain. Well, their soldiers will not have a high tolerance for not getting paid. (00:25–01:29)

CLAIM

Asserts that Iran's economy is collapsing.

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

“We have blockaded the ships going into or out of Iranian ports.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 01:21-01:27
“Numerous ships, maybe in double digits, have been destroyed.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 03:19-03:24
“We've destroyed their [Iran's] air force, we've destroyed all their conventional navy.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 03:44-03:49
“The market, because of the conflict around the strait, is in deficit about 10 million barrels a day.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 05:07-05:16
“Iran is the largest state sponsored terrorism and China has been buying 90% of their energy.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 08:00-08:08
“One out of every five seniors has been the subject of a financial scam.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 10:57-11:02
“The Iranians are trying to cut off international freedom of navigation through the Strait of Hormuz and the US is opening that up.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 00:41-00:51
“The Iranian economy is in free fall.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 02:24-02:27
“Project Freedom is something that's been in the works.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 03:02-03:07
“OPEC just announced they're going to be pumping more.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 05:43-05:46
“The US has record crude deliveries.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 05:46-05:49
“We are the number one energy superpower in the world.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 05:48-05:52
“The threat of attacks from Iran has closed the strait. We are reopening it.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 08:13-08:20
“There are things moving through the UN That China and Russia have blocked.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 08:24-08:30
“During President Trump's account, there's $1,000 seed investment.”
'BAND OF PIRATES': Bessent TORCHES Iran's navy as US flexes power in Strait of Hormuz | Uploaded May 4, 2026 | 10:08-10:13