KT McFarland, former deputy national security adviser, told Newsmax on Tuesday that President Donald Trump holds all the cards when it comes to negotiating with Iran.

McFarland, who served in the first Trump administration, appeared on "Rob Schmitt Tonight" amid news the U.S. has resumed military strikes on Iran after revoking its authorization to sell oil.

"President Trump had destroyed about 75 to 80% of Iran's military capabilities in Operation Epic Fury," McFarland said. "I think he held back that last 20, 25% because he knew that Iran would cheat."

"He knew that Iran would try to break the agreement. ... He's destroying their military, their air defense systems, apparently, some of their command and control, some of their missile sites," she added.

"This is a penalty that they're going to pay because we knew they'd cheat," McFarland continued. "We knew they would try to break the memorandum of understanding. And they did, predictably. And that's why President Trump had this last salvo that he could do."

McFarland said Iran is also facing economic pressure.

"Iran was desperate," McFarland said. "We now know from some very good reporting that the Iranian president and the speaker of the parliament pressured the ayatollah and the IRGC [Islamic Revolutionary Guard Corps] to go along with the memorandum of understanding, because they thought their economy probably had a week or so before it would collapse."

"Now, Iran is not going to have any sanctions relief, so even if a country wants to buy oil from Iran, they buy it in American dollars, and then that money doesn't get deposited in Iran's account. It gets deposited in an escrow account," she added.

"So Iran's going to go right back to where it was as a really destitute nation," McFarland continued. "And the other thing that's amazing is I don't think the price of oil is going to go up that much, showing that Iran really has played their last card, and they haven't played it very well."

McFarland said she believes Trump might eliminate the Iranian regime completely after the midterm elections in November.

"Do you remember in the "Godfather" movies and where the Godfather settles all the scores?" McFarland said. "Once the election happens, especially if President Trump does well in the midterms, then gloves are off. We hold all the cards."

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