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

Washington - U.S. Treasury Secretary Scott Bessent announced on Monday a plan to economically cripple Iran by tightening secondary sanctions and threatening dire repercussions for nations that do not participate in the campaign. This comes as the war against Tehran enters its sixth month, with peace negotiations at a standstill and Iran blocking most traffic through the vital Strait of Hormuz.

Bessent, speaking at a press conference, stated that their goal is to sever all economic connections supporting the oppressive regime until Iran stands isolated. He emphasized that the U.S. will hold everyone accountable, describing it as an "economic asphyxiation" of the regime. Bessent added that nations failing to join the U.S. sanctions will "share in the isolation" of Iran.

The Treasury Department reported on Monday that it has issued sanctions against five crucial sectors - digital assets, technology, gold, aviation, and shipping - that Iran relies on.