US Treasury Secretary: Iran’s Leaders Are Smuggling Their Money Abroad at a “Frenzied Pace”

Euro Times / Washington

U.S. Treasury Secretary Scott Bessent said that Iran’s leadership is moving large sums of money out of the country at what he described as a “frenzied” and highly unusual pace, amid growing economic pressure and political uncertainty facing the Islamic Republic.

Speaking during a hearing before the U.S. Senate Banking Committee in early February, Bessent stated that the U.S. Treasury is closely monitoring financial activity linked to senior Iranian figures and regime-linked networks. According to him, American authorities are observing significant capital flight involving millions and tens of millions of dollars being transferred abroad.

Bessent argued that the accelerated outflow of funds reflects a lack of confidence among Iran’s ruling elite in the country’s economic and political stability. He likened the situation to “rats fleeing a sinking ship,” suggesting that regime insiders are attempting to secure their wealth outside Iran as international pressure intensifies.

The Treasury Secretary linked this behavior to the impact of U.S. sanctions, which he said have severely restricted Iran’s access to hard currency, weakened the rial, and strained the country’s banking system. He noted that internal financial stress, including bank failures and rising inflation, has further contributed to the erosion of confidence within Iran’s leadership.

Bessent’s remarks come at a time of heightened tensions between Washington and Tehran, as diplomatic efforts remain stalled and the United States continues to enforce sanctions targeting Iran’s financial networks, oil revenues, and individuals associated with the regime.