U.S. Treasury Chief Scott Bessent Targets Iran's Economy

On Monday, U.S. Treasury Secretary Scott Bessent outlined a strategy aimed at the "economic asphyxiation" of Iran, expanding Washington's secondary sanctions threats.

This announcement comes nearly six months into a conflict with Tehran, which has reached a stalemate, with stalled peace negotiations and Iran's control over traffic in the Strait of Hormuz. Bessent stated, “Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.” He warned that countries that do not join the U.S. sanctions would "share in the isolation" of Iran.

Bessent noted that President Donald Trump is actively contacting world leaders to urge them to cease interactions with Tehran. The U.S.

Treasury Department has issued determinations against five critical sectors (digital assets, technology, gold, aviation, and shipping) that Iran utilizes to support its struggling economy.