Treasury Secretary Scott Bessent is set to hold a press conference Monday to detail what he’s calling the most aggressive economic isolation campaign ever directed at a single country. The target: Iran.
Bessent previewed the announcement by describing the forthcoming measures as something “like have never been seen in the history of economic isolation on a country.”
The one-two punch strategy
The Treasury Secretary has framed the approach as a “one-two punch” combining extreme economic isolation with a naval blockade of Iranian ports.
The strategy builds on months of escalating pressure throughout 2026. Earlier this summer, the Treasury issued a temporary 60-day general license, reportedly around late June, that allowed for limited Iranian oil production. That license came with strings attached: commitments on maritime transit through the Strait of Hormuz and oversight by the International Atomic Energy Agency.
