Iran faces 'economic D-Day', US Treasury Secretary warns

Sun Sep 06 2026 02:29:24 GMT+0000 (Coordinated Universal Time)

US Treasury Secretary Scott Bessent warns Iran of a crippling economic attack, calling the US–Iran war's endgame imminent.

US Treasury Secretary Scott Bessent has announced a massive economic crackdown on Iran, warning that the United States will sever all economic ties in what he calls an “economic D-Day.” Bessent’s threat follows a long history of sanctions and indicates that any nation doing business with Iran could also face isolation. Iran has responded by threatening to shut down oil exports and warning shipping vessels to avoid the Strait of Hormuz without permission. The move marks a pivotal moment in the escalating US–Iran conflict and may intensify pressure on Tehran to seek a political resolution.

Iran faces 'economic D-Day', US Treasury Secretary warns

The US Treasury Secretary has threatened Iran with "the single greatest financial offensive ever", claiming the US‑Israel war with Iran is "entering its endgame".

Scott Bessent said the US would sever all economic ties with the country in "an economic D-Day" and that any nation partnering with Iran financially would also be isolated.

Bessent's threat follows a series of U‑turns and extended deadlines from the previous administration.

Iran dismissed Bessent's comments, saying it would shut down all oil exports from the region "if the war continues".

The regime also issued a warning to shipping vessels not to pass through the Strait of Hormuz without permission.

The strait, through which one fifth of the world’s oil and gas passes, has effectively been blocked since the conflict began.

Bessent made the comments in an opinion piece for the Financial Times. He did not detail what the economic pressure would involve but is expected to explain it at a press conference in the US.

"The world should understand that our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone," he wrote.

The US has made several threats over the course of its war with Iran, including a statement by former President Trump that "a whole civilisation will die tonight" unless Iran agreed to an end to hostilities.

After diplomatic pressure from Pakistan, the US calmed its stance.

Iran already faces tough sanctions from the US, and former President Obama had worked with allies to lift many sanctions in 2015 in exchange for nuclear limitations.

Trump withdrew from the 2015 deal in 2018 and reimposed sanctions.

During the Biden administration, attempts were made to reinstate the Obama-era deal but did not succeed.

In April this year, the Trump administration launched a wave of sanctions on foreign banks and firms doing business with Tehran after it became clear Iran's regime had not surrendered after hostilities.