PDB Afternoon Bulletin | November 11th, 2026: Why Scott Bessent Is Now Living on a Military Base & Russia-Ukraine Prisoner Exchange

It's Wednesday, the 11th of November, Veterans Day in America. A sincere thank you to all those who have served and are currently serving. Welcome to the BDB Afternoon Bulletin. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. First up, Treasury Secretary Scott Besant moves on to a military base following Iranian threats against his life. I'll have the details later in the show. Russia and Ukraine agreed to a major prisoner exchange as U.S. brokered peace talks conclude without a breakthrough on actually ending Putin's war. But first, today's afternoon spotlight. Treasury Secretary Scott Besant has been moved out of his Washington, D.C. home and onto a military base following reported Iranian threats against his life. The New York Times broke the story on Tuesday, with Reuters subsequently confirming the relocation through two sources familiar with the matter. Besant has been leading the Trump administration's economic campaign against the Iranian regime, making him a potentially high-value target, as American intelligence officials warn of increasingly advanced Iranian plots against U.S. personnel. A Treasury Department spokesperson told reporters that Besant will not back away from his work, saying, quote, The precise nature of the threat against the Treasury Secretary has not been disclosed. Fox News cited a senior administration official who described it as having progressed to an advanced stage. But there's a broader intelligence picture that helps explain why officials are taking precautions. On the 23rd of October, Director of National Intelligence D.N.I. Jay Clayton sent a warning to Secretary of State Mark Rubio, copied to CIA Director John Ratcliffe. According to a memo obtained by Reuters, American intelligence had detected a substantial increase in Iranian efforts to target U.S. personnel. Clayton warned that lethal plots against Americans had reached advanced stages in the Middle East and certain other countries. The warning coincided with stepped-up security at American diplomatic missions. Washington reduced staffing in Saudi Arabia and adjusted precautions elsewhere. The U.S. government is raising concerns that the U.S. and Saudi Arabia will not be able to keep up with the military in the region amid threats from Iran-aligned groups and concerns about Iranian operations. Besant's relocation brings that threat, of course, much closer to the center of the U.S. administration. Adding to the concern over Besant, Reuters reports that a published aerial photograph of his Washington residence increased security worries. A source familiar with the situation said the image made it possible to pinpoint the property. Besant reportedly got onto the regime's target list in part because the U.S., of course, isn't relying solely on bombs and warships to pressure the Iranian regime. Since August, Besant has directed Operation Economic Outcast that's designed to cut Iran off from the financial networks that sustain its government and military. Treasury has sanctioned companies, financial intermediaries, and vessels accused of helping Iran sell oil, move money, and obtain sensitive technology. It's also threatened additional penalties against foreign businesses that continue facilitating the U.S. and Saudi Arabia's military presence. Iranian transactions. The objective, of course, is to make it increasingly difficult for Tehran to earn revenue, pay suppliers, and fund the Iranian Revolutionary Guard Corps, the IRGC, and its terrorist proxies. That campaign is running alongside the American naval blockade. And on Tuesday, Secretary of State Marco Rubio argued that the economic pressure was working well enough that President Trump doesn't need to launch another major round of strikes. Axios subsequently reported that Rubio had told G7 counterparts that the administration was choosing a third approach, neither a full-scale offensive nor an immediate peace agreement, but sustained economic pressure without a fixed end date. According to Axios, Besant was among the officials advocating for that approach. The administration believes economic pressure is weakening Iran. Tehran, meanwhile, may see attacks or threats against American decision-makers as one way to raise the cost of continuing that pressure. One administration official even suggested that Besant was being targeted because the strategy was succeeding. But that remains the administration's interpretation. Public reporting does not establish who directed the alleged threats, how far any operational planning progressed, or why Besant specifically was selected. Iran has denied plotting attacks on U.S. soil. Well, if they deny it, then I'm sure there's nothing to see here. American officials also acknowledge that Tehran's ability to mount large-scale attacks abroad is limited. But limited capability is not the same as no capability. Other senior officials, including Rubio, have also been reported to be living in more secure accommodations. For now, Besant continues to lead the economic offensive, while security officials, of course, work to keep him safe. All right, coming up next, peace talks in Abu Dhabi produce a major prisoner exchange. But Ukraine and Russia remain far apart on ending Putin's war. I'll be right back. Hey, Mike Baker here with a word about your briefs. Now, I don't mean the president's daily briefs. I mean your underwear. 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You can get significantly whiter in a short period of time. You're in charge of your own whitening journey, and it's totally free. Come to Mint Dentistry, and let us earn the business. Welcome back to the PDB Afternoon Bulletin. The latest round of peace talks between the U.S., Russia, and Ukraine has concluded without an agreement to end the war, but the negotiations have produced one tangible result, and that would be a planned prisoner exchange that could include hundreds of Ukrainian and Russian soldiers. And American negotiators are hoping to build on that progress, of course. Secretary of State Marco Rubio described Tuesday's opening discussions as, quote, very productive, while cautioning that a broader peace agreement remained a long way off. The delegations returned to the negotiating table Wednesday for another session, lasting just under two hours. Jared Kushner, who's been representing Washington alongside Special Envoy Steve Witkoff, announced what he called, quote, the biggest humanitarian release of prisoners of the war, adding that negotiators expected to finalize the numbers on Thursday. Now, Ukraine's chief negotiator, Rustam Umarov, confirmed the planned exchange, while his Russian counterpart, Vladimir Badinsky, emphasized that the agreement was still only, quote, in principle, end quote. In other words, the two sides have agreed apparently to proceed, but the details still need to be worked out. Russian state news agency TASS reported that the exchange could take place within two to three weeks, and according to a Russian military official who participated in the talks, it could become one of the largest prisoner swaps since an exchange that took place last year that included approximately 1,000 soldiers. Badinsky also said the delegations had reached a mutual understanding on several other issues, although he offered few details. There was no announced breakthrough on a ceasefire, and the fundamental disagreements preventing a broader peace settlement remain unresolved. Those include the future of Russian occupied Ukrainian territory and the security guarantees that would accompany any agreement. Now, Kiev has repeatedly insisted that a settlement must include credible protections against another Russian invasion. Moscow, meanwhile, continues to press its own territorial and security demands. Those differences will now be taken directly to the two presidents. Kushner says he and Witkoff will travel to Moscow on Thursday for talks with Vladimir Putin before flying then to Dublin to meet Ukrainian President Zelensky. Neither leader attended the negotiations in Abu Dhabi, so the meeting will be held on Thursday. The two presidents will meet in the Abu Dhabi, so the upcoming meetings will give the American envoys an opportunity to present the results and determine whether there is any room for compromise. But another dispute has emerged over the negotiations themselves, and that would be the role of Europe. Although European officials were present in Abu Dhabi, Moscow kept them out of the direct talks involving American, Russian, and Ukrainian representatives. Ukraine wants that arrangement to change. Umarov said his delegation was expected to hold several talks with the U.S. and Ukraine. The U.S. and Ukraine have been separate discussions Wednesday with representatives of European governments, the European Union, and NATO. Another Ukrainian negotiator argued that future peace talks should include European participation rather than remain limited to Washington, Moscow, and Kiev. Zelensky echoed that position, saying it was impossible to discuss European security without Europe. Well, yes, that does make sense. And there's a practical reason for that demand, of course. Any settlement would likely involve commitments from, particularly when it comes to Ukraine's post-war security. Those arrangements could require military assistance, financial support, or other guarantees intended to discourage Russia from launching another invasion. European governments would therefore be expected to help implement a deal they currently have little direct influence over negotiating. Moscow has resisted expanding the talks, but Kushner says bringing Europe into the process will be among the objectives of Thursday's meeting with Putin. He said that both Russia and Ukraine need greater clarity about their future security arrangements and that addressing those questions will require participation from European governments, the EU, and NATO. Really? Russia needs clarity about its future security arrangements? Well, how about just deciding not to invade other countries in the future? I'm not an envoy, but that could make a difference. For now, the prisoner exchange remains the clearest achievement of two days of American-led diplomacy. If completed, it would bring a significant number of soldiers home and demonstrate that Moscow and Kyiv can still reach limited agreements despite nearly five years of Putin's invasion. And that, my friends, is the PDB Afternoon Bulletin for Wednesday, the 11th of November. If you have any questions or comments, please reach out to me at pdb at thefirsttv.com. And to listen to the show ad-free, it's very easy to do. Just become a premium member of the President's Daily Brief by visiting pdb.com. I'm Mike Baker, and I'll be back tomorrow. Until then, stay informed, stay safe, stay cool. Hey, Mike Baker here with a message for dog lovers everywhere. Now, I want to tell you about Sundays for Dogs. 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