U.S. Treasury Secretary Scott Bessent on Monday outlined plans for the economic asphyxiation of Iran in Washington. He said the United States aims to sever every economic lifeline that sustains Tehran and warned countries that do not join the sanctions campaign they would share Iran’s isolation. The Treasury Department said it targeted five sectors: digital assets, technology, gold, aviation, and shipping. Bessent also said any entity that helps Iran launder money would be removed from the U.S. dollar system.
U.S. Treasury Secretary Scott Bessent speaks to reporters at the White House in Washington, D.C., Aug. 20. Reuters-Yonhap
WASHINGTON — U.S. Treasury Secretary Scott Bessent on Monday laid out plans for the "economic asphyxiation" of Iran, expanding Washington's secondary sanctions threats and warning of dire consequences for countries that decline to join the pressure campaign.
Bessent's address comes almost six months into a war on Tehran that has ground to a stalemate, with stalled peace talks and Iran preventing most traffic through the crucial Strait of Hormuz.
"Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Bessent told a press conference.
