US vows ‘economic asphyxiation’ of Iran with new sanctions

The United States is escalating its economic pressure on Iran, with Treasury Secretary Scott Bessent vowing to achieve the "economic asphyxiation" of the Islamic republic. The new measures expand secondary sanctions threats, warning that any nation continuing to engage with Tehran will face severe consequences and become a "global pariah."

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Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

Bessent declared an "economic D-Day" against Iran, aiming to "sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone." While specific countries beyond Iran were not named and no timelines were provided, the Treasury Department indicated that expanded sanctions would target Iran's digital assets, technology, gold, aviation, and shipping sectors. Additionally, 60 individuals, companies, and vessels allegedly supporting Iran's oil revenue, weapons procurement, and cyber operations have been sanctioned.

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We are going to hold everyone accountable, and this is economic asphyxiation of this regime.

The US move comes amid a protracted war with Iran that has reached a stalemate, with stalled peace talks and Tehran's continued blockade of the crucial Strait of Hormuz. This blockade has driven up global inflation and intensified domestic pressure on President Donald Trump ahead of midterm elections. Iran, however, views these sanctions as an admission of military defeat, with Deputy Foreign Minister Kazem Gharibabadi questioning the need for such extensive financial measures if Washington had achieved its objectives.

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any country that continued to enable the Islamic republic would become a "global pariah."

Entities in the United Arab Emirates, Hong Kong, China, Singapore, and Europe are among those targeted by the sanctions. Bessent emphasized that any entity facilitating money laundering for Iran would be removed from the US dollar system. The sanctions aim to isolate Iran economically, with the US seeking to compel global compliance through threats of isolation for non-participating nations.

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