US Treasury Secretary Scott Bessent defended US strikes against Iran on Sunday (local time), saying: “Sometimes you have to escalate to de-escalate,” NBC News reported.
His remarks followed US President Donald Trump’s post on Truth Social where he gave Iran 48 hours to reopen the Strait of Hormuz and warned that Tehran’s power plants could be destroyed if it did not act.
Bessent backed Trump’s warning, saying it was the only kind of news Iran was responding to. His comments related to the US-Israeli Operation Epic Fury and Operation Rising Lion, launched in late February to target Iranian infrastructure, shortly after Washington and Tehran concluded another round of talks on Iran’s nuclear program.
Iran vows retaliation
Hours after Trump warned of possible strikes on Iran’s energy infrastructure, a spokesman for the Islamic Republic said on Sunday that any attack on its oil facilities would be met with a similar response.
State-run IRNA quoted Colonel Ebrahim Zolfaqari as saying that if Iran’s fuel and energy infrastructure is targeted, fuel, energy, IT systems and desalination facilities used by the US and its regional allies will also be hit.
As tensions continue to rise in the Middle East, Washington has so far refrained from directly targeting Iran’s oil infrastructure.
Bessent on US strikes on Kharg Island
On Sunday, Bessent also addressed earlier comments regarding Kharg Island, a key hub for Iranian oil production. In an interview with Fox Business, he said military assets on the island had been destroyed, adding that it remained to be seen whether it could eventually come under US control.
While Bessent did not specify what turning Kharg Island into a US asset would involve, Bessent told Meet the Press that all options remain open, including the possibility of deploying US troops to secure the site.
Trump says Kharg Island is completely decimated
Before Bessent’s remarks, Trump said last week that the military had destroyed Kharg Island. He added that he had no role in targeting energy infrastructure, noting that rebuilding such facilities would take years. In the same interview, he suggested that the US military could attack the site again.
In that interview, the president also said he was working with international partners on plans to reopen the Strait of Hormuz, a key route for global oil supplies that has been closed since the conflict began. The disruption pushed up oil prices globally and increased fuel costs in the US as well.
Will oil prices rise on Monday?
Oil prices are likely to rise on Monday after the US and Iran threatened to target energy facilities, according to a Reuters report. Over the weekend, prices closed at their highest level in nearly four years. On Friday, international benchmark Brent crude futures for May delivery rose 3.26% to settle at $112.19 a barrel, the highest level since July 2022. Meanwhile, U.S. crude rose 2.27%, or $2.18, to settle at $98.32 a barrel.
Days after the war began, Iran closed the Strait of Hormuz, a major waterway responsible for nearly one-fifth of the world’s oil supply. The move rattled global energy markets, sending oil prices to $120 a barrel before retreating.
