Trump Administration Unleashes Economic D-Day on Iran

The Trump administration is preparing a new phase of economic pressure on Iran, dubbed 'economic D-Day', to be announced by US Treasury Secretary Scott Bessent on August 24. The measures aim to restore shipping through the Strait of Hormuz and bring an end to the six-month conflict in the Middle East.

Iran has been under US sanctions for decades, and the key question is what additional leverage the American authorities can use. One possible focus of the new sanctions package could be pressure on Tehran's trading partners, primarily China, which buys the majority of Iranian oil.

The US has already used one of its toughest economic tools against Iran: a naval blockade of oil exports. This has severely restricted Tehran's main source of revenue, with Iranian crude oil exports in August falling by nearly 90% compared to 2025 levels, to 259,000 barrels per day.

Iran has shown no willingness to make concessions and has threatened to halt all oil exports from the Persian Gulf if the economic war continues. The country's authorities have also warned shipping companies that vessels will not be able to pass through the Strait of Hormuz without Tehran's permission.