US Treasury Prepares Economic D-Day Sanctions Against Iran

US Treasury Secretary Scott Bessent is set to detail a new package of sanctions against Iran on Monday, describing the measures as an economic D-Day that aims to sever every remaining financial lifeline to the Iranian regime.

In an opinion piece published in the Financial Times and posts on social media, Bessent wrote that the Trump administration has already dismantled much of Iran's military capacity and nuclear program through earlier operations. The next phase, he said, focuses on economic isolation.

"At dawn begins an economic D-Day — the single greatest financial offensive ever marshalled against an adversary," Bessent stated. He warned countries that continue economic engagement with Iran that they risk secondary measures.

The announcement comes nearly six months into the conflict involving the United States, Israel and Iran. Military strikes between the sides have paused for weeks, yet no sustained talks have resumed. Iran’s rial has reached fresh record lows against the dollar amid the pressure.

Iranian officials responded by threatening to block all oil exports from the Gulf if the economic campaign continues. A senior Iranian security official said not a single drop of oil would leave the region under continued pressure. Tehran has also advanced parliamentary plans for service fees on vessels using the Strait of Hormuz.

Bessent is scheduled to hold a press conference at 2 p.m. Eastern Time. Details remain limited, but the package is expected to target foreign banks, shipping firms, exchange houses and governments that maintain ties with Iranian entities.

Oil markets reacted with caution. Crude prices eased slightly ahead of the announcement even as safe-haven demand pushed gold higher. Indian equity markets opened lower, with the Sensex and Nifty declining on concerns over West Asia supply risks.

The measures build on earlier rounds that already restricted Iranian oil sales and banking access. Previous efforts under multiple US administrations left gaps that third-country intermediaries filled. The current approach seeks to close those channels more comprehensively.

For countries in the region and major energy importers, the choice is between compliance with the US campaign or exposure to secondary sanctions. Iran’s economy, already strained by years of restrictions and the costs of the current conflict, faces further contraction if the isolation succeeds.

Whether the pressure produces a return to negotiations or further escalation remains the open question. The two sides have not held meaningful talks since the collapse of earlier contacts weeks ago.