Bloomberg reported that Treasury Secretary Scott Bessent indicated in a CNBC interview Wednesday that US-Iran negotiations include Iran joining the dollar system and invoicing its oil sales in the greenback — an element he framed as part of a broader reassertion of US currency dominance. Bessent also said the US Treasury will oversee the processing of Iran's frozen funds from operations based in Doha, Qatar, with "a very large percent" earmarked to purchase American foodstuffs and medicines, effectively recycling the funds back into US products. 
The Treasury Secretary extended the dollar-invoicing framework to Venezuela, stating that Caracas will return to the dollar system and make the currency "the centerpiece of their trade," contrasting with the prior sanctions era when the country sold discounted oil to China without receiving dollars. Bessent further predicted that Russia could return to the dollar system after the Russia-Ukraine war concludes. In remarks at the Economic Club of New York late Tuesday, Bessent said the "strong dollar" concept is not based on exchange-rate levels alone, calling the greenback's decline since the start of last year merely "a price on the screen." He attributed the dollar's global appeal to the depth, breadth, and liquidity of US capital markets, saying "everyone wants to be here," and asserted the dollar can remain strong even as interest rates are cut, provided the economy accelerates.