White House / President·Treasury / Iran

Treasury Secretary Bessent tells Iranians: 'don't pay your taxes' and fill your gas tanks now, predicting Iran's economy will shrink more than 25%

Published 5:00 PM CT, Monday, October 26, 2026 · Updated 5:08 PM CT
In the 5 PM CT update

In an interview with Iran International on Monday, Treasury Secretary Scott Bessent predicted Iran's economy would contract "more than 25 percent" from March 2026 to March 2027, "more than the Soviet Union contracted after its collapse." He told Iranians, "don't pay your taxes because you're not going to get anything back from the government," urged them to stock up on heating fuel and gasoline, and said there have been "no loadings at Kharg Island" under the U.S. blockade, which he said will get "even more intense" over the next eight weeks. Bessent said food and medicine channels stay open and that Washington remains ready to negotiate if Iran gives up any nuclear weapon and stops financing armed groups.

• Scott Bessent
• Treasury Department
• Iran
• Sanctions
• Naval blockade
• Kharg Island
• Iran economy
• Oil
• Iran International
• National security
• Iceland