Dhaka, Feb. 16 -- The United States has announced plans to slash Iran's oil exports by more than 90 per cent as part of former President Donald Trump's renewed "maximum pressure" campaign, Treasury Secretary Scott Bessent stated on Friday.

Speaking to Fox Business, Bessent said, "We are committed to bringing the Iranians back to 100,000 barrels-a-day of oil exports," referencing the level seen during Mr Trump's first term in office. Currently, Iran is exporting between 1.5 million and 1.6 million barrels per day, according to Bessent.

Last week, Mr Trump signed a memorandum directing the Treasury Department to impose "maximum economic pressure" on Tehran to prevent it from acquiring nuclear weapons. The order echoes the policy from his ...