- Bessent outlined the sanctions plan in a post on X and a Financial Times opinion article on Sunday.
- President Trump declared that Iran is 'completely collapsing' ahead of the announcement.
- Iran's security chief Mohsen Rezaei denounced the plans as 'economic terrorism' and threatened to halt oil exports through the Persian Gulf and Strait of Hormuz.
- Bessent is scheduled to hold a press conference at 7 PM CET on Monday to announce the concrete steps.
- Oil prices are lower on Monday morning, with Brent crude around $91.5 and WTI around $86.2.
- Bessent stated that US President Donald Trump's military campaign had "significantly dismantled Iran’s military capabilities and weakened its nuclear programme," and that the administration is now "entering the endgame" with economic measures beginning at dawn.
- The objective, according to Bessent, is to "sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone."
- Bessent cautioned countries that continue to buy or transport Iranian petroleum, facilitate financial flows through exchange houses and free trade zones, handle flights, maintain ship registries or enable seaborne fuel transfers, that any remaining links would accelerate their own isolation.
- The package could centre on secondary sanctions against nations and entities that keep purchasing Iranian oil, process its finances, operate related banks or support shipping and other commercial channels, layered on top of the existing naval blockade.
- Rezaei further threatened neighbouring Gulf countries, warning that all oil exports through the Persian Gulf and the Strait of Hormuz would be halted if they participate in the economic war.
U.S. Treasury Secretary Scott Bessent is set to announce what he calls an 'economic D-Day' against Iran, describing it as the toughest sanctions in history. This initiative follows President Trump's assertion that Iran is "completely collapsing" and aims to sever all economic lifelines supporting the Iranian regime.2
Bessent emphasized that the sanctions will be the single greatest financial offensive ever directed at an adversary, with the objective of isolating Tehran economically. He stated, "We are entering the endgame" as the measures are set to begin at dawn.8
In response, Iran's security chief, Mohsen Rezaei, condemned the U.S. plans as "economic terrorism" and warned of an "earthquake-like" confrontation if the U.S. proceeds. He also threatened to halt oil exports through the Persian Gulf if neighboring countries participate in the sanctions.3
Bessent's announcement is expected to include secondary sanctions targeting nations and entities that continue to engage with Iranian oil and finance, layered on top of existing naval blockades. The official announcement is scheduled for a press conference at approximately 6pm BST/1pm ET on Monday, with oil prices already reflecting the heightened tensions, trading lower amid the escalating rhetoric.5
“Bessent's plan targets secondary sanctions on nations buying Iranian oil, layered on the existing naval blockade, aiming to 'sever every economic lifeline' until Tehran stands alone. Iran's Mohsen Rezaei threatened to halt all oil exports through the Persian Gulf and Strait of Hormuz if Gulf states participate, while Brent crude fell 2% to $91.5.”
The Independent
Euronews.com
