USA prepares for major economic offensive against Iran with help from other countries

The United States is preparing a major economic offensive against Iran, described by Treasury Secretary Scott Bessent as an "economic D-day." Bessent likened the current situation to the end of World War II, when allies met in Tehran before launching the Normandy landings. However, the target this time is Iran, and the "strike" will be economic, representing the largest offensive ever mobilized against an adversary.

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This time, however, the enemy is different; it is not Nazi Germany but Iran. Instead of a landing, the decisive blow will consist of an 'economic D-day – the single largest offensive ever mobilized against an opponent'.

While Bessent did not detail the exact measures in an opinion piece for the Financial Times, the Treasury Department is scheduled to hold a press conference to reveal specifics. Bessent asserted that President Donald Trump has already weakened Iran's economy, noting the Rial's historic weakness and high inflation. He argued that other countries are currently enabling Iran's economic survival and urged them to cease supporting Tehran.

Nations that comply with U.S. demands will see strengthened commercial ties and greater access to global capital, according to Bessent. Conversely, those that defy Washington will face isolation similar to Iran's. Reuters reports that the Treasury Department is expected to announce an expansion of secondary sanctions, which target countries and companies engaging in business with Iran.

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The rial has never been weaker and inflation rarely higher.

In response to the impending U.S. actions, the United Arab Emirates has announced it will cease all trade with Iran. Tehran, however, has vowed retaliation against any nation that follows the U.S. directive. China, a major oil customer for Iran, has previously opposed U.S. moves, and Washington had previously threatened sanctions against Chinese refineries processing Iranian crude, a threat Trump later rescinded.

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These nations would do best to stop supporting Iran. Those who do as the U.S. says will strengthen their commercial ties and 'deepen their access to global capital'. Those who do not follow Washington's call will face the same isolation as Iran.