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National Security Adviser John Bolton told FBN's Maria Bartiromo on Monday that the sanctions had had a "huge" effect on the Iranian economy, plunging them into a depression.
"We have already seen the consequences in Iran," said Maria Bartiromo of FOX Business Network in Bolton. "The rial, the currency, has dropped 70% since the sanctions, inflation has quadrupled.The country is in recession."
JOHN BOLTON, NATIONAL SECURITY COUNCILOR OF THE UNITED STATES: I am pleased to be here.
BARTIROMO: So really tell me your teeth against these sanctions. What will it do in Iran in practice?
BOLTON: Well, I think that all the sanctions already have a huge effect on Iran. You know, when the president announced that we were pulling out of the Iran nuclear deal in May of this year, big companies that had prospects or even trade and investment with Iran were not going to wait until the penalties take effect. They went out. They have reduced their spending in many ways, and I think we have already seen the consequences in Iran. The rial, the currency has fallen about 70% since the sanctions, inflation has quadrupled, the country is in recession. You are witnessing riots and demonstrations all over the country provoked by ordinary citizens. So I think it will reduce Iran's ability to continue its nuclear program, financed terrorism, and to engage in military activities around the Middle East, and I think we're already seeing it. .
BARTIROMO: Now, look, it's obvious that the oil has been pulled out of the market, but the criticisms made by The Editorial Board and The Journal over the weekend include the fact that the administration has exempted eight countries from the penalties imposed on Iranian oil exports. Does it mean Japan, South Korea, China and India?
BOLTON: Well, I think it will be announced today. Look, the president's policy here is the maximum pressure, and I think what he means by maximum pressure is maximum pressure. The goal is to reduce Iran's oil exports to zero. We are working with other countries to obtain replacement supplies for the buyer countries and I think it is essential over a long period.
But let's be clear, we are going to have sanctions that go even further. We will not be satisfied simply with the level of sanctions that existed under Obama in 2015. Others are coming and, what is even more important, perhaps, we will have a very strict and very strict application of the sanctions. existing. .
Iran, right now, is in escape and escape mode. They will try to get around the sanctions, we are determined to prevent that.
BARTIROMO: I know you will announce this country and the exemptions later today, but why derogations? Why put some in a category of these renunciations and others not?
BOLTON: Yes, listen, I think we said for a long time, zero should mean zero. However, some countries that have been able to buy oil from Iran for three or four years now need time to reduce to zero.
These are not permanent derogations, no way, we will do everything in our power to press hard Iran. As the British say, squeeze them until the Pips (ph) are squeaking.
BARTIROMO: Wow.
BOLTON: And we will do everything we can. They are choices and Tehran's mullahs (ph) are radically changing their behavior or facing an economic disaster.
BARTIROMO: This weekend, I spoke with Prince Al-Waleed of Saudi Arabia and explained to us the importance of the relationship with the unique stability in the region, namely Saudi Arabia, facing this behavior of Iran.
BOLTON: Listen, we have a deep and important relationship with Saudi Arabia since Franklin Roosevelt. It is a cornerstone of our policy in the Middle East and we want to get to the bottom of what happened to Khashoggi, we want the truth, there is no doubt about it. This is unacceptable behavior, but the relationship is fundamental to the United States and we will make every effort to achieve it.
The other oil-producing monarchies in the Gulf region will depend on it. Israel regards Saudi Arabia as an important and stabilizing factor and in the struggle for what is really causing tension and danger in the Iran region, we want a Saudi on our side.
BARTIROMO: I'd like to go back to that in second place, but here's an editorial from Rick Perry, Secretary of State for Energy, Perry, writing this in "The Wall Street Journal", the only one in the world. editorial entitled "The world can live without Iranian oil".
Did America's new role as an energetic power play a role in this decision? Maybe the United States is at such a high level of production, we do not need Iranian oil from the Middle East anyway.
BOLTON: Yes. Rick Perry and the Energy Department have done a fantastic job since the president gave up the Iran nuclear deal to talk with other countries, increase production and find the right oil for country refineries who made the purchase. Iran. We have increased our own production in America. I think we can get to a point where no one needs to buy oil from Iran.
BARTIROMO: So, let me come back to Saudi Arabia and Saudi journalist Jamal Khashoggi. Khashoggi's sons recently interviewed and asked that their father's remains be returned to the United States.
As I mentioned, Prince Al-Waleed, here is yesterday what he said about this survey on "Sunday Morning Futures" in an exclusive interview.
(START THE VIDEO CLIP)
PRINCE AL-WALEED BIN TATAL, PRINCE IN SAUDI ARABIA: I think that personal information is coming in – who follow these orders and have sent a group of people to Turkey to discuss with Jamal Khashoggi and that something s & # He spent badly there, where he was murdered.
This leaves a little time for the investigation to end and I publicly ask Saudi (ph) (inaudible) via a program to make it public as soon as possible. Thus, I believe that Saudi companies will be vindictive and exempt.
(END VIDEO CLIP)
BARTIROMO: Investor, I realize that the relationship with the Saudis is essential, very important in this neighborhood, if you will, but is it the NBS to lead? I mean, a year ago we were there in Riyadh, he said in an interview and to the world, he wants to modernize Saudi Arabia. Two weeks later, he jailed all these ministers, including Prince Al-Waleed, and then a month ago, we learn this horrible assassination of Jamal Khashoggi. Is this guy?
BOLTON: Listen, the King and the Crown Prince have told us very firmly, in several direct conversations with President Trump, that they were not involved in that and that they both committed to get to the bottom of things. That's what they told us and we take them to the word that they will do it.
BARTIROMO: What are you going to do to monitor the behavior of Iran and whether or not it deserves new sanctions?
BOLTON: No, it's the critical phase in which we find ourselves. As I said, escape and escape by Iran. They will try to infiltrate the banking systems of other countries. They will try to use screen companies and cutouts to evade the penalties. They will do all kinds of things.
That is what I would say to US companies and any foreign company that wants to do business in the United States, and I would say particularly to their investors and independent directors sitting on their boards, if you see that your company is engaged in a transaction where the word Iran is associated with any place, it should look like a fire bell in the night. Not only will we have the extremely important civilian application of the Treasury Department's Bureau of Foreign Assets Control, but also the criminal investigators of the Department of Justice. They have already had a number of important cases against the perpetrators of sanctions violations by Iran. I think they will put – make it a high priority. There are many risks for any company close to Iran.
BARTIROMO: So you are ready to sanction European companies, European investors if they do business with Iran.
BOLTON: They violate our sanctions, but I tell you even though we have heard a lot about how the European government still wants us to participate in the agreement with Iran –
BARTIROMO: Yes.
BOLTON: – European companies have spoken with their feet. They are out of Iran. This is one of the reasons why the Iranian economy is booming, and we will intensify it. It's going to be a big pressure. That's what President Trump means by "maximum pressure".
BARTIROMO: Should we expect reprisals from Iran?
BOTLON: Well, I think they'll have to make very difficult decisions. You know, if they change their behavior, the president said he was happy to involve them in all areas – support for terrorism, ballistic missiles, conventional military activities in Yemen, Iraq and Syria. We are ready to do it. They must change their behavior otherwise they will have to deal with the economic consequences.
BARTIROMO: Let me go to the caravans heading to the United States. Mexico has started to receive people from the caravan of migrants. US troops are now on the ground and have installed barbed wire on the southern border. From a national security perspective, how should we consider this caravan and the need to already install barbed wire?
BOLTON: Look, this caravan we're talking about and others that are forming is a very politicized effort to make a point about the United States. You know, there are groups and groups in Latin America around the world who talk about a society without borders, that people can get into any country that they want when they want it. We should have a philosophical discussion about it. This is not the American point of view. Personally, I think that there should be more immigration to the United States, but a controlled and legal immigration that we must decide. And control the southern borders, not just an issue of immigration. It is also a question of national security. Trafficking in human beings, drug trafficking, the risk of weapons of mass destruction and terrorists crossing the border. I think that's a question that people rightly worry about, and I think President Trump got the answer.
BARTIROMO: Mr. Ambassador, I want to end with our point of departure on Iran. It was reported on Friday that China was looking to buy oil in the United States, as opposed to Iran, and that this will be the beginning of a new trade deal that the president will talk to President Xi when & # 39; He will see him at the G20. Truth?
BOLTON: I think there are a lot of possibilities. I think the US oil and gas production and the export potential are huge. It is a strategic alternative for Europeans to buy Russian oil and gas. Could be a strategic alternative in the Far East too. You already see Chinese banks that stop paying for Iranian financial transactions because they prefer to do business in the United States. The same is true for many other Chinese companies. The reach of American economic power is enormous, and that's what the president is using here.
So how important would it be in the midst of this struggle with China for intellectual property theft? And that seems like a very big problem.
BOLTON: Listen, the president will probably be able to see Chinese President Xi Jinping at the G20 meeting in Argentina at the end of the month. The president used the commercial weapon here in a way that has never been used before. I think he surprised the Chinese. They say, "woah, an American president who does not behave like a good quality doormat when we break the rules of the WTO." We will see what happens here.
