US Treasury chief vows to cut every ‘economic lifeline’ of Iran

United States Treasury Secretary Scott Bessent has outlined a strategy for the "economic asphyxiation" of Iran, signaling an intensified pressure campaign against Tehran. Bessent declared that the U.S. objective is to "sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."

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Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone. We are going to hold everyone accountable, and this is economic asphyxiation of this regime.

Speaking at a press conference, Bessent warned that nations refusing to join the U.S. sanctions campaign would "share in the isolation" of Iran. He indicated that former President Trump is actively contacting world leaders to discourage interactions with Tehran. The Treasury Department has identified five critical sectors, digital assets, technology, gold, aviation, and shipping, that the Iranian regime allegedly uses to prop up its struggling economy.

Bessent vowed to hold accountable any entity facilitating money laundering for Iran, stating that such actors would be "removed from the U.S. dollar system." When questioned about potential targeting of Chinese banks involved with Iran, Bessent asserted that "no one is above the reach of U.S. sanctions."

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share in the isolation

The Treasury chief previously described the initiative as an "economic D-Day" against Tehran in a column for the Financial Times. This escalation follows a period of conflict initiated by the United States and Israel with a significant bombing campaign against Iran on February 28, which led to retaliatory actions by Iran across the region.

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no one is above the reach of U.S. sanctions.