U.S. Treasury Secretary Scott Bessent vowed an “economic D-Day” against Iran as Washington prepared to announce new sanctions targeting Tehran’s trading partners.
“At dawn begins an economic D-Day — the single greatest financial offensive ever marshalled against an adversary,” Bessent wrote in an opinion piece published by the Financial Times on Sunday.
Bessent provided few details but indicated that the campaign would target countries and entities that buy or transport Iranian oil, facilitate banking transactions or otherwise maintain financial and commercial links with Tehran.
He said Washington aimed to cut off every remaining economic lifeline to Iran. Bessent is expected to outline the measures at a news conference on Monday.
President Donald Trump issued a similar warning last week, threatening economic consequences for countries that continue doing business with Tehran as Washington seeks to increase pressure on Iran to return to negotiations.
Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, responded by threatening to halt oil exports from the Persian Gulf if other countries supported the U.S. measures.
Rezaei said Iran would regard participation in Washington’s economic campaign as an “act of war” and could prevent oil from leaving through the Strait of Hormuz or other Gulf routes.
Iran’s recently established Persian Gulf Strait Authority separately said ships accused of breaching its transit rules could face fines, detention or confiscation during future passages. Shipping through the strait remains well below prewar levels.
Oil prices eased ahead of the U.S. announcement, with Brent crude futures falling 1 percent to $93.45 a barrel in early trading on Monday.
Iranian President Masoud Pezeshkian, meanwhile, defended a June memorandum of understanding with the United States as the best route out of the stalled conflict, saying none of its provisions amounted to capitulation.
