Scott Bessent made the announcement at the Newsmax Policy Summit on Thursday, saying authorities know where the assets are. The move extends a sanctions campaign that has already frozen hundreds of millions in Iranian crypto holdings.
Washington says its military's main goal is to stop Iran exporting energy, as part of a wider push to strangle its economy. An Iranian official says the Strait of Hormuz could reopen within seven days if the US eases pressure and lifts its blockade on Iranian ports.
The drawdown is more than 80 percent of the 400 million barrels agreed by the agency's 32 members after US and Israeli strikes on Iran disrupted supplies. The G7 has separately agreed to release 100 million barrels of diesel and crude over the next four months.
Type at least two characters.
