The US Treasury Secretary warned Iran of “the single greatest financial offensive ever”, stating that the US‑Israel conflict with Iran is entering its final phase.
Scott Bessent asserted that the United States would cut all economic relations with Iran in what he called an economic D‑Day, and warned that any country engaging in financial dealings with Tehran would be cut off.
Bessent’s warning follows a series of policy reversals and extended deadlines set by President Donald Trump’s administration in previous threats.
Iran dismissed Bessent’s remarks, stating it would halt all oil exports from the region if the war persists, according to Reuters.
The Iranian regime issued a fresh warning to vessels, urging them not to transit the Strait of Hormuz without its permission, the agency reported.
Approximately one‑fifth of the world’s oil and gas normally traverses the Strait of Hormuz, a waterway south of Iran, but the flow has been effectively blocked since the conflict began at the end of February.
Bessent made these remarks in an opinion piece for the Financial Times, external. He did not specify the nature of the economic pressure on Iran, but is expected to elaborate during a press conference in the United States at 13:00 local time (18:00 BST) on Monday.
He wrote, “The world must understand that our goal is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.”
The United States has issued multiple threats toward Iran throughout the war, including President Trump’s April statement that “a whole civilisation will die tonight” unless Iran agrees to a deal ending the conflict and unblocking the Strait of Hormuz.
The United States subsequently stepped back from that stance after mediator Pakistan intervened and called for renewed diplomacy.
The Iranian regime already endures stringent economic sanctions imposed by the United States.
Former President Barack Obama and several allied nations reached a 2015 agreement that lifted many sanctions in exchange for Iran’s commitment to limit its nuclear programme.
However, Trump withdrew from the agreement in 2018, labeling it “defective at its core” and reimposing all U.S. sanctions on Iran.
During President Joe Biden’s term, he made attempts to revive the Obama‑era deal, but those efforts were not realized.
