The United States is rolling out what officials call an “economic D-Day” against Iran on Monday, with Treasury Secretary Scott Bessent scheduled to detail a major new package of sanctions aimed at isolating Tehran’s remaining financial lifelines.
Bessent described the measures in a Sunday post on X and an opinion piece in the Financial Times as “the single greatest financial offensive ever marshalled against an adversary.” He said the administration is “entering the endgame” after months of military conflict that began with U.S. and Israeli strikes in late February.
According to U.S. officials, the new sanctions will target not only Iran but also foreign companies, banks, shipping firms and governments that continue doing business with the country. Secondary sanctions are expected to form a core part of the pressure campaign, with particular attention on Iran’s oil trade.
The shift follows the collapse of a June memorandum of understanding between Washington and Tehran. That temporary framework had included commitments on the Strait of Hormuz and limited sanctions relief, but it unraveled amid renewed tensions and fighting. President Donald Trump has characterized the current approach as “Economic Warfare and Isolation on an unprecedented scale.”
Iranian officials have rejected the move. Senior figures have warned that continued economic pressure could lead Tehran to halt all oil exports from the Persian Gulf and treat countries that join the U.S. effort as engaging in an “act of war.”
Bessent is expected to outline the specific measures during a news conference Monday afternoon. U.S. officials have framed the campaign as a way to force greater isolation of the Iranian regime and encourage a return to negotiations on American terms.
Oil markets reacted overnight with prices slipping as traders awaited the announcement.
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