Bessent: 'Economic D-Day' against Iran begins

US Treasury Secretary Scott Bessent has said the United States is entering an ‘Economic D-Day’ operation against Iran after President Donald Trump’s administration moved to cripple Iran’s military and nuclear capabilities.

‘President Trump has crippled Iran’s military capabilities, destroyed nearly 100 per cent of its military factories, and buried its nuclear programme,’ Bessent said in a post on X on Sunday (23/8).

He added that the US has entered the final phase, in which the economic operation against Iran will begin as dawn breaks local time.

‘As dawn breaks, Economic D-Day begins — the largest financial assault ever launched against an adversary,’ he stressed.

Bessent said the US government will utilise every available resource to further isolate Iran economically and cut off sources of support for the Iranian government.

‘President Trump has created the conditions to utilise every agency, every authority, and actions that many people thought we would never take. Our goal is to sever every economic resource that sustains this tyrannical regime until Iran stands alone,’ Bessent said.

‘Iran has survived by disguising extortion as security guarantees. They have drawn strength from the calculation that Iranian retaliation is inevitable, while US enforcement actions are considered negotiable,’ he said.

Under Trump’s leadership, Bessent continued, that era has ended.

‘And those who worry about the dangers of opposing Iran should not underestimate the consequences of challenging the US,’ he said.

Bessent did not provide further details on the specific economic measures or which agencies would be involved in the economic assault.