Iran’s parliament speaker rejects US Treasury chief’s claims over economic pressure

Iranian Parliament Speaker Mohammad Bagher Qalibaf on Saturday rejected US Treasury Secretary Scott Bessent's claims that Washington's blockade and economic measures would crush the Iranian economy.

"Liar, liar, pants on fire," Qalibaf said in a post on the US social media company X, responding to Bessent's assertion that Washington had brought 130 million barrels of oil onto the market over the past 14 days.

Referring to what he described as the "real 130s," Qalibaf urged Bessent to ask his staff to review Moody's figures that he said showed more than $130 billion in war-related costs.

He claimed US trading firm Jane Street had lost more than $130 million by betting on lower oil prices during a single rollover of futures contracts.

"Liar, liar, yields on fire," Qalibaf added, sharing an article by economist Paul Krugman titled "Scott Bessent Fails to Gaslight the Market."

Bessent earlier said "the blockade and Operation Economic Outcast will crush the failing Iranian economy," claiming the US guided 130 million barrels of oil onto the market over the previous two weeks.

Tensions between Tehran and Washington have remained high since the war began with strikes on Iran in late February. Iran retaliated by targeting US military positions and assets in Arab countries aligned with Washington.

They signed a memorandum of understanding in Islamabad in June following mediation by Pakistan and Qatar aimed at ending hostilities and paving the way for negotiations.

Implementation of the agreement has since faced difficulties, with Tehran accusing Washington of failing to fulfill its commitments.