US Treasury Targets Iran with Economic D-Day Amid Oil Price Drop
US Treasury Secretary Scott Bessent announced an economic offensive against Iran, calling it 'an economic D-Day.' The move aims to sever financial lifelines supporting the Iranian government. In response, President Trump has already dismantled much of Iran's military capabilities and destroyed its nuclear program.
Bessent stated that the new sanctions will begin at dawn, targeting every economic lifeline sustaining the regime until Tehran stands alone. This includes secondary sanctions on foreign banks and firms doing business with Iran.
Iran warned any country backing the new sanctions would be treated as committing an act of war. The country also threatened to block oil shipments through the Strait of Hormuz if pressure continues, sending oil prices down to $85 per barrel.
Despite the geopolitical headlines, Bitcoin price held steady above $77,000. Analysts expect the crypto market to continue climbing, with a 68% chance of reaching $85,000 by December 31, 2026. This is according to prediction market data.