US vows ‘economic D-Day’ as Iran threatens to halt all oil exports

The United States is poised to unleash a sweeping new wave of economic sanctions against Iran, which Treasury Secretary Scott Bessent has dubbed "the greatest financial offensive ever marshalled." The measures, set to be detailed Monday, aim to target Iran's trade partners and nations engaging with its economy.

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At dawn begins an economic D-Day, the single greatest financial offensive ever marshalled against an adversary.

Bessent signaled that the US would focus on "fearful nations" that practice "appeasement" by continuing to do business with Iran. He warned these countries to "consider the consequences of sustaining it." The US and Israel have been engaged in strikes against Iran for months, degrading its military capacity and inflicting economic pain, while Iran's Supreme Leader Ayatollah Ali Khamenei was killed. However, Iran retains missile and drone capabilities, threatening Gulf neighbors and oil tankers in the Strait of Hormuz, disrupting global fuel prices.

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They would do well to consider the consequences of sustaining it.

Iran has responded with strong statements, suggesting a major military retaliation. Mohsen Rezaei, secretary of Iran's Supreme National Security Council, warned that if the economic war continues, "not a single drop of oil will be exported." He declared that any country supporting America's economic war against Iran would be considered an act of war. China, a major oil importer from the Gulf, has stated that sanctions and pressure are not solutions and called for diplomacy.

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If the economic war continues, not a single drop of ‌oil will ⁠be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf.

Despite outward defiance, Iranian officials acknowledge that further economic punishment could exacerbate hardships, fuel unrest, and undermine the legitimacy of the Islamic Republic. The country already faces high inflation, a weakening currency, energy shortages, and sanctions. The US sanctions are expected to intensify these existing economic pressures.

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Iran will regard any country’s participation in or support for America’s economic war against the Iranian people as an act of war.