US Treasury Deploys Economic 'D-Day' Against Iran
US Treasury Secretary Scott Bessent announced an economic 'D-Day' against Iran on Sunday, marking the beginning of the most extensive financial action ever directed at a country. According to Bessent, President Donald Trump's military efforts have significantly dismantled Iran's military strength and reduced its nuclear program's scope.
In his Financial Times opinion piece published on Sunday, Bessent stated that economic actions are now in the final phase, with the goal of cutting off all financial support for the Iranian government until it is left isolated. He warned nations or entities involved in purchasing or moving Iranian oil, managing financial flows via exchange houses or free trade zones, operating flights, keeping ship registries, or supporting fuel transfers at sea would face faster isolation if they maintained such ties.
The announcement has led to a dip in oil prices on Monday morning. Brent crude, the global benchmark, was near $91.5 per barrel, down 2% from Friday's settlement, while West Texas Intermediate hovered around $86.2, roughly 1.5% below last week's closing level.