The man running America’s money war on Iran has moved onto a military base, as officials say Tehran’s plots have advanced

One of the most senior members of the Trump administration is now living on a military base because of threats from Iran.

Treasury Secretary Scott Bessent has left his home, a senior administration official said on Tuesday, US time. A Treasury Department spokesperson confirmed the move, saying Bessent would “not be deterred by the Iranian regime’s threats”. The official did not say when he moved, and the specific threat has not been disclosed.

US officials have concluded that Iranian plotting against current and former American officials has reached a more advanced stage, according to officials familiar with the matter. The senior official said the threats against Bessent had gone beyond that.

Why Bessent?

Since August, Bessent has run Operation Economic Outcast, a Treasury campaign of sanctions and financial measures designed to isolate Iran’s economy, running alongside US military action and a naval blockade.

That puts him at the centre of the strategy some in the administration prefer to renewed bombing. Secretary of State Marco Rubio has reportedly said military action may not be needed if sanctions and the blockade are working. For Tehran, the man who controls the sanctions is a symbol of the pressure squeezing its economy.

Iran has previously been accused by US authorities of plotting against American officials, including President Trump and members of his first administration. Iran has consistently denied such plots.

What else happened on the same day?

Late on Tuesday, US time, the Justice Department announced a superseding indictment against three Iranian nationals accused of involvement in nearly 20 attacks and attempted attacks across Europe and the United States, including the September plot targeting RAF Fairford, the British base used by US bombers. Only one of the three is in US custody. Attorney-General Todd Blanche said those who plot attacks would be prosecuted.

The timing points to how widely Washington now sees Iranian activity spreading beyond the Gulf, from British airbases to the homes of cabinet members.

Is a peace deal any closer?

The signals conflict. President Trump posted on Monday that there was “positive momentum toward an end to this Conflict”. Iran denies any talks are under way; its security chief Mohsen Rezaei said claims of negotiations were aimed at easing economic pressure and bringing down oil prices.

Why does it matter to Australians?

Through the price of oil. Brent crude rose in Asian trading on Wednesday to about US$92 a barrel, after touching two-month lows in the previous session, as attacks on shipping around the Strait of Hormuz kept supply fears alive. October was the worst month for strikes on ships since the war began, with 37 vessels hit, according to a count by the Washington Institute for Near East Policy.

Any sign that the conflict is moving toward attacks on officials, rather than winding down, tends to keep a risk premium in fuel prices, which flows through to Australian bowsers within weeks.