(FOX NEWS) — Treasury Secretary Scott Bessent said that, as a result of a U.S. pressure campaign, the Iranian government was unable to pay over 50 percent of their army and that their police “are not reporting to the police station.”

“We have a dedicated, dedicated staff that has done a fantastic job of outlining the black market and the flow of Iranian oil and energy around the globe,” Bessent said. Wednesday during a Senate Finance Committee budget hearing.

“We have frozen assets. We are holding those, and we have severely disrupted the Iranian economy and the Iranian war machine. We think that inflation may be over 200%,” he continued.

“Their currency has collapsed. We believe that more than 50 percent of the army is not getting paid, and that police are not reporting to the police station,” Bessent concluded.