US Treasury chief vows to cut every ‘economic lifeline’ of Iran

U.S. Treasury Secretary Scott Bessent has vowed to impose "economic asphyxiation" on Iran, targeting every economic support that sustains the regime. Speaking at a press conference, Bessent detailed plans to expand secondary sanctions and warned of severe consequences for nations that fail to join the pressure campaign. The aim is to isolate Iran globally, with Bessent stating that countries refraining from US sanctions would "share in the isolation" of Tehran.

The Treasury Department has already issued determinations against five key sectors - digital assets, technology, gold, aviation, and shipping - that the Iranian regime relies on to bolster its faltering economy. Oil prices have dropped as Trump pledges an economic war on Iran, and he has been making phone calls to world leaders urging them to cut ties with Tehran.

Bessent also vowed to remove any entity that helps money laundering on behalf of Iran from the US dollar system, emphasizing that no one is above the reach of US sanctions.