US to unveil ‘economic D-Day’ against Iran with toughest sanctions yet

The United States is set to unveil the “greatest financial offensive” against Iran in pursuit of Economic D-Day campaign.

According to the Treasury Secretary Scott Bessent posted on X, “President Trump has dismantled Iran’s military capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program.”

“We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary.”

Bessent also warned that “any nation that serves as a financial artery of a withering regime should expect to share in its isolation”, the warning that is aimed at foreign governments still transacting with Tehran. He has previously warned of further secondary sanctions on countries and entities that are in business with Tehran.

“Our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone,” he added. Bessent will hold a press conference at 1 pm EDT on Monday.

In response, Iran also vowed retaliation by shutting down all oil exports from the Gulf "if the economic war continues."

Besides closing the oil exports, Iran also warned the other Gulf neighbours against joining the economic warfare against war. In result, the country will further tighten its grip on the Strait of Hormuz.

Mohsen Rezaei, the newly appointed head of Iran's Supreme National Security Council, threatened on Saturday to strike the interests of neighbouring oil states if they participate in US-led isolation campaigns against Iran.

“Any country that becomes a partner in creating economic restrictions against us will be regarded by us as an enemy,” he said in an interview with Iran’s state broadcaster.

Iran's economy ​was already strained due to international ⁠sanctions before the US and Israeli attacks destroyed parts of its infrastructure.

The economic warfare hints at the escalation of conflict between two countries after the expiration of 60-day MoU in which Washington and Tehran failed to secure any agreement to end this conflict.