'Bit of pain' worth long-term security from Iran, Bessent tells BBC

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US Treasury Secretary said a "small bit of economic pain" was worth it to eliminate the threat of Iranian strikes on Western capitals.

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As the International Monetary Fund (IMF) warned the US-Israel war with Iran could plunge the global economy into recession, Bessent said the conflict was to eliminate the threat of Iranian nuclear strikes on Western capitals.

"I wonder what the hit to global GDP would be if a nuclear weapon hit London... I am saying that I am less concerned about short-term forecasts, for long-term security," he said.

At the start of the war, Iran had uranium enriched to 60%, according to senior US officials. It does not have nuclear weapons.

The UK government has said there is "no assessment" that Iran is trying to target Europe with missiles.

Bessent told the BBC he was less concerned about the economic hit than the risk Iran posed to global security.

"The biggest risk you can take is one you don't know you were taking.

"Now we know for a fact that, as the Iranians shot at Diego Garcia, they do have mid-range intercontinental ballistic missiles that could reach London, and we know that they want a nuclear programme," he said.

He added that US and Israeli strikes had removed the "tail risk" of Iranian nuclear strikes against Western countries.

As the BBC has previously reported, the threat of Iranian ballistic missiles to London is remote.

A UK government spokesperson said: "There is no assessment Iran is trying to target Europe with missiles.

"But we have the military capability we need to keep Britain safe from any kind of attacks, whether it's on our soil or from abroad. We are ready to defend the country, whatever the threat."

In its World Economic Outlook report, the IMF said in a worst-case scenario - where oil, gas and food prices spike and remain high this year and next - global growth could fall below 2% in 2026.

"This would mean a close call for a global recession which has happened only

Source: BBC

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