U.S. Treasury Secretary Scott Bessent on Monday announced a campaign to isolate Iran from the global economy, framing the effort as an economic attack aimed at cutting off the regime’s financial connections worldwide.
The initiative, unveiled during a press conference in Washington, seeks to apply what Bessent described as economic suffocation of Iran through coordinated measures targeting five key sectors: digital assets, technology, gold, aviation and maritime transport. Countries continuing to engage with Iran face the risk of American sanctions, he said, though he did not specify a timeline or detail the exact measures to be adopted.
President Donald Trump has personally contacted world leaders to request the cessation of economic ties with Iran, setting defined deadlines for compliance. Bessent emphasized that compliance is required before the U.S. Treasury acts unilaterally, though he declined to elaborate on the deadlines or enforcement mechanisms.
When asked whether major Chinese banks facilitating trade with Iran would be targeted, Bessent stated that no entity is beyond the reach of U.S. sanctions. He avoided naming specific countries, instead describing the approach as discreet diplomacy.
Bessent previously signaled the campaign in April, when he introduced an initiative called “Economic Fury” against Iran and warned of secondary sanctions for entities maintaining financial or commercial links with the regime.
