Treasury Chief Leading Campaign to Cripple Iran's Economy Reportedly Moves to Military Base Amid Death Threats

Treasury Secretary Scott Bessent, who leads the US campaign to cut off Iran's economic lifelines, has left his Washington home for a military base after Iranian threats to his life, officials have confirmed.

The New York Times reported the move on Tuesday, 10 November, citing three people familiar with the matter. A senior administration official told Fox News the threats had reached 'more than an advanced stage,' though the Times said their severity was not immediately clear. The base has not been named.

The Treasury Department confirmed his departure. A spokesperson said the secretary 'will not be deterred by the Iranian regime's threats and remains committed to executing Operation Economic Outcast and maintaining the blockade, which together are collapsing Iran's economy.'

Why Bessent Became a Target

Bessent launched Operation Economic Outcast on 24 August at President Donald Trump's direction, saying, 'Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.' The Treasury sanctioned more than 60 entities, individuals, and vessels that day.

The campaign runs alongside a US naval blockade of Iranian ports imposed in April. Its aim is to force Tehran to stop attacking shipping and reopen the Strait of Hormuz, which has been largely closed since the US and Israel struck Iran on 28 February.

According to the Times, leading the campaign has made Bessent one of the administration's top targets. In a 23 October memo, Director of National Intelligence Jay Clayton warned that Iran had 'substantially increased efforts to target US personnel,' with lethal plots at advanced stages in the Middle East and elsewhere.

US officials have said Iran's capacity for large-scale attacks inside the US is limited. Tehran has previously denied plotting attacks on US soil.

The Photo That Exposed His Home

Concerns about Bessent's security reportedly grew after The Wall Street Journal published an aerial photograph of his Georgetown mansion in January 2025, allowing the house to be geolocated. He had bought it for $12.5 million (about £9.4 million) shortly after his confirmation. With Iran stepping up its targeting of US officials, he was moved for his safety, the source said.

'The news media has an obligation to act responsibly amid growing threats against public officials,' the source added.

He is not the only cabinet member on a base. Secretary of State Marco Rubio and Pentagon chief Pete Hegseth moved into military housing in Washington in 2025, months before the war began, citing security concerns.

Concerns Extend to US Bases in Britain

On 9 November, 13 US aircraft, among them nine KC-135 refuelling tankers, left RAF Mildenhall in Suffolk after what the Journal, citing people familiar with the matter, described as a threat from Iran. Weeks earlier, the US pulled its B-1 bombers from RAF Fairford in Gloucestershire after police arrested five men near the base on 27 September.

On 10 November, the US Justice Department charged three men it called Iranian-backed operatives over alleged roles in nearly 20 attacks and attempted attacks in the US and Europe, including the Fairford plot. Iran has denied involvement in the Fairford incident.

White House Opts to Tighten Economic Pressure

Axios reported this week that Trump has chosen to intensify financial pressure on Iran instead of resuming strikes or accepting a deal on terms Washington considers unacceptable.

In Tehran, Supreme National Security Council secretary Mohsen Rezaei said the Strait of Hormuz would stay closed until Iran's seven conditions are met.