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

United States Treasury Secretary Scott Bessent has vowed to cut off all economic support to Iran, as part of a strategy to isolate the regime. Speaking in Washington, Bessent outlined plans to expand secondary sanctions against Iran and warned of severe consequences for countries that do not join the pressure campaign. The United States is targeting five critical sectors - digital assets, technology, gold, aviation, and shipping - that Iran relies on to sustain its failing economy.

Bessent emphasized that countries who do not comply with the US sanctions will share in Iran's isolation. He also noted that the Trump administration is making phone calls to world leaders urging them to stop their interactions with Tehran. Furthermore, any entity that helps Iran launder money will be removed from the US dollar system.

Bessent declared that an "economic D-Day" has begun in a Financial Times column, and the United States and Israel launched a massive wave of bombing against Iran on February 28, which has led to retaliatory attacks across the region. The stalemate in peace talks and Iran's obstruction of traffic through the Strait of Hormuz have made the pressure campaign particularly effective.