{
  "id": 3061422,
  "title": "Bessent to speak as Trump administration expected to unveil new Iran sanctions",
  "url": "https://urgent.news/2026/08/24/bessent-to-speak-as-trump-administration-expected-to-unveil-new-iran",
  "topic": "world",
  "section": "World",
  "published": "2026-08-24T16:26:31.000Z",
  "source": {
    "name": "CBS News",
    "slug": "cbs-news",
    "url": "https://www.cbsnews.com/news/bessent-press-conference-iran-sanctions-economic-d-day/"
  },
  "original_language": "en",
  "account": "Washington - Treasury Secretary Scott Bessent is set to address the press on Monday at the Treasury Department, as the Trump administration unveils its new economic sanctions against Iran. The administration plans to expand the existing sanctions regime with the potential for stricter secondary sanctions on entities and nations engaging in trade with Tehran. These measures are a part of the administration's strategy to pressure Iran into reopening the Strait of Hormuz and ultimately put an end to the ongoing conflict that the administration has estimated will last between four to six weeks, although it has now entered its sixth month.\n\nBessent, in a recent op-ed for the Financial Times, emphasized that the administration has dismantled Iran's military capabilities, dismantled nearly 100% of its military manufacturing facilities, and effectively ended Iran's nuclear program. He described the upcoming economic offensive as \"the single greatest financial offensive ever marshaled against an adversary.\"\n\nThe Iranian regime, according to Bessent, has relied on the notion that Iranian retaliation is inevitable, while American enforcement is negotiable. However, he asserts that under President Trump, the era of such a calculus has come to an end. Those who are apprehensive about defying Tehran should not underestimate the consequences of testing Washington's resolve. The president has equipped every agency, authority, and action that was previously deemed unnecessary to employ.\n\nThe Trump administration has repeatedly declared Iran to be significantly weakened, despite Iran's persistent resistance to U.S. military actions. This development marks yet another round of Treasury action targeting Iran's economy. On August 7, the department imposed sanctions on various companies and individuals for allegedly aiding in the laundering of hundreds of millions of dollars. This was the eighth such action since the second Trump administration began.\n\nShahr Bank, along with two Dubai-based exchange houses, Titan Exchange and Alps International, were among the entities designated for their role in facilitating the retrieval of oil revenues for major Iranian exporters. Additionally, several Iranian nationals associated with these entities were also targeted. These sanctions aim to isolate the regime and cut off its access to the U.S. financial system.",
  "summary": "The Trump administration is trying to pull all economic levers at its disposal to cripple Tehran.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}