Treasury Secretary Scott Bessent is set to unveil new sanctions against Iran as part of the “Economic D-Day” President Donald Trump has promised. He will hold a news conference Monday to detail what he says will be a massive new financial offensive against Tehran.
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Writing in the Financial Times, Bessent called it “the single greatest financial offensive ever marshaled against an adversary.”
Bessent says the goal is to cut off every economic lifeline supporting Iran’s government, while warning countries that continue doing business with Tehran that they could face consequences of their own.
Trump’s previous pledge
Bessent’s announcement comes just days after Trump promised what he called the “most crushing economic operation ever taken against any country” in a Truth Social post.
As Straight Arrow previously reported, Trump threatened massive financial penalties against any country that helps Iran evade U.S. sanctions, warning of “economic warfare and isolation on an unprecedented scale.”
Trump called it “Economic D-Day,” saying Tehran has had plenty of opportunities to make a deal to reopen the Strait of Hormuz and end the war but has refused.
Iran issues a response
Iran is already warning countries not to take part.
The head of Iran’s top security body says any country that joins the U.S. economic campaign will be considered an “enemy,” and has threatened to harm their interests.
Iran’s president, however, is still defending the memorandum of understanding signed with Washington in June as the best path to ending the war, even though its 60-day deadline has expired and both sides have previously declared the deal dead.
Meanwhile, Iran and Oman are set to continue talks Tuesday over the future of the Strait of Hormuz.
The two sides have been negotiating for weeks over how ships could move through the critical waterway, including possible fees and designated shipping routes.
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