U.S. Treasury Secretary Scott Bessent said Wednesday evening that senior figures within Iran’s Islamic Republic are smuggling millions — and in some cases tens of millions — of dollars out of the country, signaling what he described as panic within the regime as U.S. sanctions tighten.

Speaking in a video clip circulated publicly, Bessent said Treasury officials are witnessing large-scale capital flight by Iran’s leadership through both traditional banking channels and digital assets. He described the behavior as regime insiders “fleeing the ship,” suggesting a growing lack of confidence among Iran’s ruling elite.

“As Treasury, who carries out the sanctions, we can see what’s happening,” Bessent said. “We are now seeing the rats fleeing the ship because we can see millions, tens of millions of dollars being wired out of the country, snuck out of the country by the Iranian leadership.”

Bessent emphasized that the United States is actively tracking these funds as they move through financial institutions around the world. He warned that Iranian officials will not be able to shield their assets abroad, stating that the Treasury Department intends to trace and seize the money wherever it appears.

“We are going to trace these assets and they will not be able to keep them,” he said. “What we do at Treasury is we follow the money, whether it is through the banking system or through digital assets.”

The remarks come as the Trump administration continues to intensify economic pressure on Tehran, targeting oil smuggling networks, sanctions evasion schemes, and financial channels used to fund regional proxy groups. Treasury officials have previously detailed how billions of dollars in illicit oil revenue have been laundered through shell companies, foreign banks, and cryptocurrency platforms to bypass U.S. restrictions.

Analysts say the apparent surge in capital flight by Iran’s leadership reflects mounting internal strain on the regime, compounded by nationwide unrest, international isolation, and tightening enforcement of sanctions. By cutting off escape routes for illicit wealth, U.S. officials believe they can accelerate internal pressure on Tehran’s power structure and weaken the regime’s ability to sustain repression and foreign aggression.