Last Updated:
Iran warned that it could suspend all oil exports through the Hormuz and other parts of the Persian Gulf if the US proceeds with what Tehran describes as an “economic war”.
File image of US Treasury Secretary Scott Bessent. (Courtesy: Reuters)
The Trump administration is preparing for what US Treasury Secretary Scott Bessent called an “economic D-Day” against Iran, as Washington prepares to launch its most aggressive financial campaign yet to pressure Tehran.
Bessent, in a post on X, said US President Donald Trump had “dismantled Iran’s military capabilities”, destroyed nearly 100% of its military factories and buried its nuclear programme.
“We are now entering the endgame. At dawn begins an economic D-Day,” Bessent said, signalling a major escalation in the administration’s economic campaign against Tehran.
President Trump has dismantled Iran’s military capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program.We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against…
— Treasury Secretary Scott Bessent (@SecScottBessent) August 23, 2026
The Treasury Secretary accused the Islamic Republic of relying on economic and security-related pressure to sustain its influence, arguing that Tehran had operated on the assumption that Iranian retaliation was inevitable while US enforcement could be negotiated.
“Under President Trump, that era is over,” Bessent said.
He added that Trump had created the conditions for the US government to use “every agency, every authority” and measures that many had previously considered unlikely.
“Our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone,” Bessent said.
Bessent’s comments come amid heightened tensions between Washington and Tehran, with the Trump administration signalling that economic pressure will form a central part of its strategy to constrain Iran.
Iran Threatens To Halt Oil Exports
Iran has warned that it could suspend all oil exports through the Strait of Hormuz and other parts of the Persian Gulf if the US proceeds with what Tehran describes as an “economic war”.
Mohsen Rezaei, Secretary of Iran’s Supreme National Security Council, issued the warning in a post on X on Monday. He said Iran would consider any country that supports or takes part in the US economic campaign against Tehran to be committing an “act of war”.
“If the economic war continues, not a single drop of oil will be exported. Neither through the Strait of Hormuz nor from anywhere in the Persian Gulf. Iran will regard any country’s participation in or support for America’s economic war against the Iranian people as an act of war,” Rezaei said.
The warning came amid growing tensions between Washington and Tehran over the US administration’s plans to introduce tougher economic measures against Iran.
Iran Mocks US Sanctions Plans
Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Sunday aimed at Trump’s latest sanctions threat, using satire to suggest that tougher economic restrictions could have the opposite effect.
Ghalibaf referred to measures aimed at easing financial pressures through temporary government interventions in a post on X.
“Importing frozen meat to fix meat prices. Okay, that might work. What’s the plan for bonds, import frozen yields? Frozen homebuyers for housing? Frozen paychecks for wages? A frozen foreign policy delivers a frozen economy. The only thing still moving? The Iran boomerang,” he said.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei also criticised the US sanctions threat, according to Al Jazeera, saying that war and sanctions were “not unfamiliar” to Iran.
Baghaei noted that Iran had been under sanctions for 20 years.
Trump Announces ‘Economic D-Day’
Iran’s warning came after Trump announced an “Economic D-Day” campaign against the country on Wednesday.
Trump described the proposed measures as the “most crushing economic operation ever taken against any country” and called on US allies to join Washington in isolating Iran.
The US President also said Washington had “very draconian sanctions” at its disposal and indicated that additional measures could follow.
“We have things that we could sanction. We have very draconian sanctions, and we’ll see what happens,” Trump said while addressing technology leaders.
Trump said the US would determine its next course of action depending on how the situation develops, adding that it could either lead to a significant fall in oil prices or result in the continuation of the measures already in place.
Key Questions Answered
Ask News18Iran has warned that it could suspend all oil exports through the Strait of Hormuz and other parts of the Persian Gulf if the US proceeds with what Tehran describes as an “economic war”.
Ask News18About the Author
Aanchal is the Sub-Editor at News18.com, with more than four years of experience in national and international news. My work involves covering breaking news, politics, current affairs and developments…Read More
United States of America (USA)
August 24, 2026, 07:27 IST
Read More
Source link
[ad_3]
