US Treasury Secretary Scott Bessent has threatened to launch the “largest financial campaign to date” against Iran. He asserted that the US-Israel conflict with Iran has now entered a “final phase.”
Bessent stated that the US would sever all economic ties with Iran, terming the move an “economic D-Day.” He also threatened international isolation for any country that engages in financial business or transactions with Iran.
Iran has rejected the US Treasury Secretary’s warning. According to Reuters, Iran stated that if the conflict continues, it will halt all oil exports from the region.
Additionally, Iran has issued a new warning regarding maritime traffic. Reuters reported that vessels have been warned against navigating the Strait of Hormuz without the country’s permission.
The Strait of Hormuz, located south of Iran, typically facilitates the transport of approximately one-fifth of the world’s oil and gas. However, since the conflict began in late February, Iran has effectively halted energy supplies through this vital waterway.
Bessent had previously outlined these new economic measures against Iran in an opinion piece published by the British newspaper Financial Times. However, he did not provide specific details regarding the nature of the measures to be taken.
He is expected to provide further details during a press conference scheduled for Monday at 1:00 PM US local time.
Bessent wrote, “Our goal is to sever every economic lifeline sustaining the authoritarian regime until Tehran stands completely isolated.”
