U.S. Treasury Secretary Scott Bessent said on Sunday that Washington will announce its most stringent sanctions against Iran, framing the move as a decisive economic offensive aimed at crippling the country’s financial and military capacity.
Bessent, speaking ahead of a scheduled announcement at a conference starting at 14:00 ET on Monday, described the measures as an 'economic D-Day' and warned that any nation continuing to support Iran would face severe diplomatic and economic consequences. In a Financial Times opinion piece, he stated that the sanctions represent the 'single greatest financial offensive ever marshalled against an adversary,' adding that allies of Tehran risk becoming 'global pariahs.'
Iranian Secretary of the National Security Council Mohsen Rezaee responded by asserting that Iran would halt all oil exports—including through the Strait of Hormuz and the Persian Gulf—if the economic pressure campaign continues. Rezaee’s warning underscores the escalating stakes as the U.S. tightens its restrictions on Tehran, which already faces extensive sanctions on oil sales and broader economic activity.
The announcement follows a period of heightened tensions, including the collapse of a June peace deal and the lapse of a prior agreement. The conflict expanded in August when Yemen’s Iran-backed Houthis declared a naval blockade against Saudi Arabia and began targeting vessels in the Red Sea. While the Trump administration has claimed victory over Iran and asserted that commercial shipping through the Strait of Hormuz has resumed, recent data indicates that transit volumes remain a fraction of pre-war levels due to persistent fears of Iranian attacks.
Iran has demanded the U.S. lift its naval blockade and comply with the terms of the lapsed peace deal before resuming negotiations. The standoff reflects the broader geopolitical and economic risks tied to Iran’s oil exports and regional influence.
