WANA (Aug 29) – Iranian Speaker of Parliament Mohammad Bagher Ghalibaf has criticized U.S. Treasury Secretary Scott Bessent on social media, dismissing Washington’s claims about economic sanctions and highlighting strain in U.S. financial markets.

 

Responding to claims made by Bessent regarding the U.S. guiding millions of barrels of oil through the Strait of Hormuz, Ghalibaf reposted an article by Nobel laureate economist Paul Krugman titled “Scott Bessent Fails to Gaslight the Market.”

 

In the piece, Krugman sharply criticizes the Treasury Secretary’s market management and policy credibility.

 

Ghalibaf mocked Bessent’s reference to “130 million barrels,” countering with alternative “130” figures: “For real 130s, tell your staffer to pull Moody’s showing $130+ billion in war costs, and ask another how much Jane Street burned north of $130 million shorting oil for you in just one futures roll,” Ghalibaf wrote.

 

He concluded his post by taking aim at U.S. sovereign debt markets, writing: “Liar liar yields on fire.”

 

Context & Financial Background

The exchange comes as 30-year U.S. Treasury yields have spiked to around 5.3%, reaching their highest levels since 2008.

 

Despite attempts by the U.S. Treasury to stabilize long-term debt prices and suppress yields to present a more favorable economic outlook and lower government borrowing costs, investors have continued to demand higher yields.

 

Market analysts note that the rising yields signal persistent skepticism among professional investors regarding official U.S. economic narratives, reflecting growing concerns over fiscal stability and geopolitical risks.