US Unleashes 'Economic D-Day' Against Iran with New Sanctions Push

Treasury Secretary Scott Bessent has announced that the US administration is preparing to launch an economic sanctions push against Iran, dubbed 'economic D-Day.' The move aims to sever all revenue streams supporting Iran's government.

According to Treasury Secretary Bessent, the Trump administration's goal is to target every economic lifeline sustaining Iran's government. This includes secondary sanctions on countries, companies, and financial networks that continue to facilitate Iranian oil trade.

The US has warned that any country whose financial institutions or businesses provide 'any type of lifeline' to Iran would face 'tremendous economic consequences.' The campaign may put added pressure on Iran's trade partners, particularly China, which purchases about 90% of Iran's oil exports.

Iran's rial has fallen to a record low of 2.02 million to the US dollar as Washington prepares to announce the new measures. The International Monetary Fund forecasts that Iran's economy will contract by more than 5% this year due to nearly six months of war and economic pressure.