Rial Hits Record Low As Bessent Readies “Economic D-Day” Assault To Isolate Iran
In the coming hours, the Trump administration is expected to unveil a sweeping campaign to economically isolate Iran and its trading partners, with China likely the primary target. The escalation is designed to force Tehran back to the negotiating table, as its only leverage – the Strait of Hormuz – appears to be quickly eroding. Commercial ships are now transiting the newly opened, US military-supervised shipping corridor off Oman, raising the possibility that Iran has partially lost control of the critical waterway.
“At dawn begins an economic D-Day, the single greatest financial offensive ever marshaled against an adversary.”
Bessent Warns ‘Economic D-Day’ Awaits Iran
Trump Will ‘Sever Every Lifeline that Sustains the Tyrannical Regime’
“The single greatest financial offensive ever” awaits Iran as the U.S.-Israel war with the totalitarian Islamic regime enters its “endgame,” Treasury Secretary Scott Bessent warned Monday.
Treasury Secretary Scott Bessent told CNBC that he would hold a press conference on Monday to “talk about exactly what we’re going to do” regarding an economic war against Tehran.
“Economic pressure means that we are going to all of our allies, and this is going to be the greatest coordinated economic isolation in the history of the world, and we are going to them and saying, ‘You are either with us or against us,'” Bessent said.
Late Sunday, Bessent wrote on X: “We are now entering the endgame. At dawn begins an economic D-Day, the single greatest financial offensive ever marshaled against an adversary.”
Iranian parliament advances plans for Hormuz service fees
- The Iranian parliament’s National Security and Foreign Policy Commission has backed a draft law, according to which ships of countries permitted to pass through the Strait of Hormuz will pay for services provided by Iran.
- Iran’s security chief, Mohsen Rezaei, says any state joining United States sanctions against Iran will be considered an enemy, and Tehran will target its interests in retaliation.
- US President Donald Trump has reposted a map marking the Strait of Hormuz as “NEW US Territory” on his Truth Social account, a day after he told a rally that he views the strait as “American territory”.
Iran’s security chief doubles down on threats against Trump’s ‘economic war’
Iran’s top security official has repeated threats to retaliate against Trump’s proposed sanctions on Tehran.
Mohsen Rezaei, the secretary of Iran’s Supreme National Security Council, wrote in English in a post on X: “If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf. Iran will regard any country’s participation in or support for America’s economic war against the Iranian people as an act of war.”
- Iran has issued a warning that vessels violating its arrangements for transiting the Strait of Hormuz could face restrictions, including fines, detention or confiscation.
- US Treasury Secretary Scott Bessent says Washington aims to “sever every economic lifeline” that sustains Iran ahead of an expected announcement from the US to impose extreme economic sanctions against Iran.
- Iran security chief Mohsen Rezaei warns that if Trump’s “economic war” continues, Tehran will halt all oil exports from the Gulf and treat any country’s support for US sanctions as “an act of war”.
- Oman’s Foreign Minister Sayyid Badr al-Busaidi will travel to Tehran on Tuesday for meetings with Iranian officials over the Strait of Hormuz, Iran’s foreign ministry has said.
A little history on Iran:
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