US Threatens New Sanctions, Vows to Strangle Iran's Economy
US Treasury Secretary Scott Bessent has vowed to ‘cripple the economy’ of Iran by expanding sanctions threats. The US is also determined to isolate Iran’s economy.
‘Across the world, our goal is to sever every economic lifeline that sustains this tyrannical regime until Tehran is isolated alone,’ Bessent told reporters on Tuesday (25/8/2026).
‘We will hold all parties accountable, and this is a step to cripple the regime’s economy,’ he said.
He warned that countries that do not join the US sanctions will also feel the impact of the isolation experienced by Iran.
Bessent revealed that US President Donald Trump is contacting world leaders to ask them to stop interacting with Tehran.
The Treasury Department stated that the expansion of secondary sanctions will target Iran’s digital asset, technology, gold, aviation, and shipping sectors.
It is also proposing new sanctions against 60 individuals, companies, and vessels suspected of helping Iran generate oil revenue, procure weapons, and conduct cyber operations.
The sanctions target various entities around the world, including in the United Arab Emirates, Hong Kong, China, Singapore, and Europe.
Bessent stressed that any entity ‘that facilitates money laundering on behalf of Iran will be removed from the US dollar system.’
Iran responded to the threat with dismissiveness and predicted ‘another defeat’ for Washington.
‘We have long anticipated these plans; the government is ready—and indeed has been ready—and has a two-year plan to handle this situation,’ said Economy Minister Ali Madanizadeh.
The US has announced a massive economic operation against Iran and warned of severe consequences for countries that do not join the campaign.
The announcement comes nearly six months after the start of the war against Iran, which has now reached a stalemate, with peace talks stalled and Tehran blocking most traffic through the vital Strait of Hormuz.
Previously, Bessent stated that the United States was launching an ‘economic D-Day’ against Iran, or the largest financial assault. However, the announcement did not name any specific country other than Iran and did not provide a timeframe for implementation.