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Ted Cruz: “Iran's exports fell from a million barrels a day to about…”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel...

Published April 13, 2026 | Video Starts at 16:38

If you shut this down, he said, this is a country that in essence can go bankrupt in a very short window of time. Well, … Iran's exports fell from a million barrels a day to about 300,000 after [Trump] ended the oil waivers. … there was a massive battle within the Trump administration about whether to withdraw from the Obama Iran nuclear deal. It was a disastrous deal. (16:38–16:44)

CLAIM

Asserts that Iran's oil exports decreased by 70% after Trump ended oil waivers.

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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Ted Cruz

“Iran's oil exports grew from 300,000 barrels a day to 2 million barrels a day under Joe Biden.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 20:11-20:23
“The Biden administration flowed more than $80 billion into Iran by not enforcing the oil sanctions.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 20:30-20:47
“90% of Hamas and Hezbollah's money comes from Iran.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 20:52-20:56
“Iran was trying to charge a toll of 2 million bucks a ship.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 21:32-21:39
“It took Iran 40 years to build up its military. It took us 39 days to utterly and completely destroy it.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 24:26-24:34
“The Ethics committee, which is bipartisan, declared her guilty on 25 out of 27 ethics charges from stealing up to $5 million of FEMA money.”
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“The Iranians were unwilling to move at all, in particular on nuclear weapons.”
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“They want a nuclear weapon because they want to be able to use a nuclear weapon.”
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“President Trump quite rightly is insisting under no circumstances will the regime of Iran be allowed to have nuclear weapons.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 00:39-00:48
“The president responded by ordering a blockade on the Strait of Hormuz, shutting down every ship going into and out of the strait.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 00:48-00:56
“The President had drawn a series of red lines. His red lines were, number one, Iran must have no enrichment whatsoever.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 04:20-04:28
“Number two, Iran must give up all of its already enriched uranium.”
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“Number three, Iran had to agree to completely open the Strait of Hormuz.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 04:34-04:39
“Number four was Iran had to stop funding terrorism across the globe.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 04:40-04:45
“J.D. Vance has been the most vocal opponent of military action against Iran.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 04:55-05:26
“Iran promised to open the Strait of Hormuz and they knowingly failed to do so.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 05:41-05:47
“The vast majority of the revenue Iran takes in is from selling their oil.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:03-12:08
“They sell the bulk of that oil to China.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:08-12:11
“This blockade, shutting down all of the shifts and ships, and there's an entire ghost fleet that has been built up of ships that have been…”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:11-12:22
“That ghost fleet will not be able to travel through the Strait of Hormuz, will not be able to carry any Iranian oil.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:21-12:29
“It means there's going to be no Iranian oil being sold, no money coming in.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:28-12:34
“By shutting down the strait, it also means there are going to be no incoming material to Iran through the Strait of Hormuz.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:42-12:52
“It also puts a lot of pressure on China because they rely on that oil from Iran.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 12:54-12:59
“Western Europe, I think, is basically on a suicide pact. They have brought in such a massive Muslim immigration that the leaders in Western…”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 13:15-13:34
“Iran was selling roughly 1 million barrels a day of oil at the beginning of the Trump administration.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 16:38-16:44
“Joe Biden came in and almost immediately just stopped enforcing the sanctions.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 19:03-19:09
“$80 billion, in a real sense, paid for the death squads on October 7th.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 20:56-21:03
“President Trump is shutting down the ghost fleet that is incredibly potent.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 21:03-21:13
“For 60 plus years since World War II, the seas have been free and open and navigable because the United States protects the waterways.”
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“The Trump administration has been very reluctant to use the words regime change.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 24:58-25:04
“This is a regime that hates America. That is a radical, theocratic regime that for 47 years has been actively murdering Americans, funding…”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 25:39-25:52
“The reason they [Iran] want nuclear weapons is to murder Americans.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 25:53-25:58
“The regime has never been weaker.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 26:02-26:05
“We ought to be arming rebel groups in Iran to topple the regime.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 27:10-27:15
“Taking out the ayatollah and the senior leadership is a big, big deal.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 27:59-28:03
“The president is focused on preventing a nuclear weapon [in Iran].”
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“I think we ought to be using every lever point we have to try to collapse [the Iranian] regime.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 28:12-28:27
“Just a week ago, [Eric Swalwell] was the frontrunner among the Democrats to be the next governor of California.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 30:45-30:52
“It was clear when this story broke. Everyone knew Swalwell's gubernatorial campaign was over the instant it broke.”
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“This is not just one allegation. It's multiple allegations. It's allegations of a pattern of misconduct.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 31:13-31:19
“This was so widespread to see 50 Swalwell staffers come out against him.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 31:58-32:03
“California has this weird jungle primary where there's not a Democrat primary and a Republican primary.”
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“There was a possibility, not a likelihood, but a possibility, that the top two vote getters could be the two Republicans.”
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“There were multiple polls that had come out that showed the two Republicans as one and two.”
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“It would not surprise me if Swalwell is out of Congress by the end of the week because this is getting a lot of momentum.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 35:07-35:14
“There is a second Democrat House member, Shelia cheerfully as McCormick of Florida, who should also be expelled from Congress.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 37:03-37:13
“She is likely going to jail for stealing millions of taxpayer dollars.”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 37:30-37:37
“Almost all the press coverage, there's actually very little coverage. But what little there is, they almost all leave out that she's a…”
No Deal: Trump Moves to Blockade the Strait of Hormuz as Iran Defies Nuclear Demands plus Swalwel... | Uploaded April 13, 2026 | 38:04-38:12