The United States could consider lifting some sanctions on Iran if progress is made in ongoing negotiations with Tehran, US Treasury Secretary Scott Bessent has said.
Speaking during a question-and-answer
session at the Reagan National Economic Forum in Simi Valley, California, on Friday, Bessent indicated that any relaxation of sanctions would depend on Iran meeting specific conditions. When asked whether Washington would maintain its economic and financial restrictions on Iran, he replied, “We’ll see.”
Bessent stressed that any sanctions relief would be introduced gradually and only after Iran meets certain milestones outlined in a potential agreement. He also warned that the US remains prepared to increase pressure on Tehran if negotiations fail to advance.
Iran has faced extensive US sanctions since President Donald Trump withdrew from the nuclear agreement during his first term in office. Tehran has repeatedly insisted that the removal of sanctions must be part of any future deal with Washington.
Earlier on Friday, Trump said he was making a “final determination” on a preliminary agreement aimed at extending a ceasefire with Iran.
Bessent noted that the administration had imposed additional sanctions on Thursday, targeting sectors including airlines and other financial entities. He said the US still has several options available if tougher measures become necessary, while also leaving room for steps that could benefit ordinary Iranian citizens.
However, Trump recently appeared to rule out immediate sanctions relief, saying the administration was not discussing any easing of restrictions or financial concessions for Iran.
Bessent Backs Changes at Federal Reserve, Mentions Trump Coin
Turning to domestic economic issues, Bessent voiced strong support for Federal Reserve Chairman Kevin Warsh’s view that the central bank should move away from providing forward guidance on monetary policy.
“I think we are going to see a new sheriff in town,” Bessent said, adding that the focus should return to accountability and credibility within the Federal Reserve.
Bessent also revealed plans for a commemorative coin featuring Trump’s image as part of celebrations marking the 250th anniversary of the United States. Referring to a coin issued for former President Calvin Coolidge during the country’s 150th anniversary celebrations, he said a similar tribute would be created for Trump.
His remarks came shortly after he defended a proposal to place Trump on a special $250 banknote, a move that would require approval from Congress.
