US Launches 'Economic Onslaught' Against Iran’s Financial Connections

The United States has initiated a significant campaign to sever Iran's financial ties globally, described by Treasury Secretary Scott Bessent as an "economic D-Day." Bessent issued a stark warning on Monday, urging countries to cut business relationships with Iran or risk being cut off from the U.S. dollar-based financial system.

"We are launching an economic onslaught against Iran’s financial connections around the globe," Bessent stated at a news conference. "Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone." He emphasized that operating in "gray spaces" concerning Iran is no longer acceptable, and any economic engagement with the Iranian government will expose those involved to "the full reach of American power."

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We are launching an economic onslaught against Iran’s financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

The U.S. Treasury Department has identified and mapped the networks, facilitators, and financial channels that Iran utilizes to smuggle oil and circumvent sanctions. Washington plans to collaborate with its international partners to target all sources of Iran's illicit revenue. The department has specifically identified five sectors, digital assets, technology, gold, aviation, and shipping, that the Iranian government relies on to bolster its economy.

In addition to targeting these sectors, the Treasury has imposed sanctions on nearly 60 entities, individuals, and vessels. This intensified economic pressure comes as the U.S. continues its conflict with Iran, which has contributed to elevated global energy prices. While heavy fighting has somewhat subsided, diplomatic efforts to resolve the conflict have stalled, and shipping through the Strait of Hormuz remains disrupted, keeping energy prices high.

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Let there be no ambiguity as to the position of the United States. An economic engagement of any kind with this murderous regime will expose those responsible to the full reach of American power.