Bessent Unveils Largest Financial Campaign Against Iran

US Treasury Secretary Scott Bessent has announced the beginning of an economic campaign against Iran, which he described as 'the most extensive financial action ever directed at an opponent.' In a statement on X and a Financial Times op-ed, Bessent framed the initiative as the start of an 'economic D-Day,' aiming to cut off all financial channels supporting the Iranian government.

The goal, according to Bessent, is to isolate Iran economically until it is left without support. He warned nations involved in purchasing or moving Iranian oil that their connections with Tehran would lead to their own exclusion from the global economy.

The market response has been subdued, with oil prices dipping on Monday morning. Brent crude was near $91.5, down 2% from Friday's settlement, and West Texas Intermediate around $86.2, roughly 1.5% lower.