WorldBreaking
Archived — This article has been archived. The information may be outdated.
US Treasury Secretary Announces 'Economic D-Day' Against Iran
Hindustan Times··24 Aug
US Treasury Secretary Scott Bessent said Washington is entering the endgame of its pressure campaign against Iran, calling Monday's measures an economic D-Day. He described it as the greatest coordinated financial offensive ever assembled against an adversary in a Financial Times op-ed. The sanctions target countries and companies still trading with Iran, including buyers of its oil.
Prism
What It Means For You
- Global oil prices and shipping costs could shift if new sanctions target countries still buying Iranian oil.
- Countries and companies trading with Iran, including major buyers like China, face pressure to choose sides in the campaign.
- The measures arrive as the war nears its sixth month, keeping Gulf shipping routes central to global energy costs.
What's Happening
- Bessent said the US is entering the endgame and will detail sanctions at a Monday press conference.
- He described the measures as the single greatest financial offensive ever assembled against an adversary.
- Iran's currency fell to a record low against the dollar as the announcement approached.
Why 'Economic D-Day' Follows Months of Military Pressure
- Trump had earlier said the US would launch the most crushing economic operation ever taken against any country.
- The campaign follows Operation Economic Fury, which had focused sanctions on entities tied to Iran's oil trade.
- Iran has weathered nearly five decades of US sanctions since its 1979 revolution, leaving unclear room for new pressure.
all-newstop-stories
