US Treasury Secretary warns Iran of 'single greatest financial offensive' amid escalating
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Late Monday afternoon, Treasury Secretary Scott Bessent unveiled nearly 60 Iran-linked sanctions under what he called Operation Economic Outcast, a campaign designed to sever Iran's remaining trade, technology and financial lifelines.
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Washington Times BusinessTreasury Secretary Scott Bessent on Monday announced new secondary sanctions targeting businesses that maintain relationships with Iran as the Trump administration ramps up its efforts to economically isolate the Islamic republic.
Financial TimesScott Bessent threatens wider US sanctions on Iran’s economic partners Treasury secretary warns of further measures in bid to increase pressure on Tehran
BBC BusinessScott Bessent said the US would sever all economic ties with the country in "an economic D-Day" and that any nation partnering with Iran financially would also be isolated.
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China warns US it could retaliate over Iran sanctions Beijing says it will take ‘all necessary measures’ if Washington expands crackdown on business with Tehran
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ZeroHedgeFinancial Times reports that Beijing could retaliate if Chinese firms are included in any expansion of the economic war against Iran.
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Iranians queue for petrol as US blockade bites Long lines form in capital as officials warn that war and inflation are triggering fuel shortages
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ZeroHedgeAccording to Bloomberg, Iran is facing mounting fuel shortages as the US squeezes its access to imports, stretching supplies of a commodity that previously sparked bouts of unrest in the country.
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With the United Arab Emirates, Iran’s largest trading partner, suspending all trade with Tehran, officials within the Islamic republic have threatened retaliation over the economic blows.
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BBC BusinessThis puts it in a challenging position. The US has threatened to punish those who continue to trade with Iran as part of its economic pressure tactics.
Washington Times BusinessThe U.S. and Iran traded military strikes for weeks after fighting restarted in earnest in July. But Washington has since shifted to an economic pressure campaign after Mr. Trump called off another round of strikes earlier this month.
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One fifth of the world's oil and gas usually passes through strait, a waterway south of Iran, but the flow has been effectively blocked by the country since the conflict began at the end of February.
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Washington Times BusinessIn retaliation, Iran effectively closed the Strait of Hormuz, a small waterway connecting the Persian Gulf and the Gulf of Oman, with a combination of small boats, drones and missiles. At least one-fifth of the world’s oil and natural gas moves through the strait each year and, and its closure has driven up energy prices globally.
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Published The US Treasury Secretary has threated Iran with "the single greatest financial offensive ever", claiming the US-Israel war with Iran was "entering its endgame".
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Bloomberg Xi Signals Defiance as US Threatens Sanctions Over Iran Xi Jinping’s government is sending a message of defiance to Donald Trump over China’s economic ties with Iran. Bloomberg's Michael Heath breaks down the options available to Donald Trump to strangle Iran's economy and end a conflict that's pulling US resources from Asia. (Source: Bloomberg)
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02 ZeroHedge The Trump administration's "Operation Economic Outcast" has expanded the sanctions campaign across China and Hong Kong, targeting dozens of individuals and businesses while intentionally holding off on sanctioning major Chinese banks that keep Tehran connected to the global financial system. Beijing, meanwhile, signaled earlier Tuesday that it would not retreat from its economic relationship with Iran, raising the risk that Trump's economic war against Tehran could evolve into a direct confrontation with China, the largest buyer of discounted Iranian crude.
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03 Financial Times Can Trump’s ‘economic D-day’ force Iran to capitulate? Tehran made no concessions as a result of ‘maximum pressure’ sanctions eight years ago. Few expect it to yield this time
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04 Washington Times Business The new sanctions are intended to force businesses and countries to sever their remaining economic ties to Tehran and facilitate a faster collapse of the Iranian economy — an ambitious goal, given Iran’s proven ability to withstand financial pressure from Western nations.
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05 BBC Business However, Iran has shrugged off President Donald Trump and his Treasury Secretary Scott Bessent's warning, saying it is "fully prepared" for the sanctions.
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Sources (6)
- bbc-biz
- ft
- commondreams
- bloomberg
- zerohedge
- washtimes-biz