US Treasury chief vows to cut every 'economic lifeline' of Iran

US Treasury Secretary Scott Bessent has announced a new strategy to economically cripple Iran, broadening Washington's secondary sanctions and warning of severe repercussions for nations that do not participate in the pressure campaign. This announcement comes six months into a war against Tehran that has reached a standstill, with ongoing peace negotiations and Iran's restrictions on maritime traffic through the Strait of Hormuz.

During a press conference, Bessent emphasized the goal of severing every economic support line for the Iranian regime until Iran stands alone. He stated that the US intends to hold all accountable and that non-compliant countries would face the isolation of Iran. The Treasury Department recently issued sanctions against five key sectors - digital assets, technology, gold, aviation, and shipping - that the Iranian regime relies on to maintain its struggling economy.

Bessent also vowed that any entity aiding Iran in money laundering would be removed from the US dollar system, asserting that no one is exempt from the reach of US sanctions. He described the new economic campaign as an "economic D-Day" against Tehran, following the US and Israel's extensive bombing against Iran on February 28, which provoked Iranian retaliation across the Middle East.

The US has urged its allies and China to join the effort to isolate Iran, threatening economic punishments on any country assisting Iran.