US Unveils Fresh Economic Offensive Against Iran, Threatens Countries Backing Tehran

• US Treasury Secretary Scott Bessent has announced plans for a fresh package of sanctions against Iran as Washington intensifies its economic campaign against Tehran.

• President Donald Trump has described the planned measures as an “economic D-Day” and warned countries helping Iran sustain its economy that they could face consequences.

• The move is expected to target governments and financial networks facilitating Iran’s oil revenues and other sources of foreign exchange, with China likely to come under particular pressure.

• Iran has threatened “seismic” retaliation, including possible attacks on oil tankers, raising fears of further disruption to global energy supplies.

August 24, () — The United States is set to unveil a new and potentially sweeping round of economic sanctions against Iran, with Treasury Secretary Scott Bessent describing the planned measures as the “single greatest financial offensive ever” against Tehran.

President Donald Trump has characterised the campaign as an “economic D-Day” and vowed to target countries that continue to provide Iran with an economic lifeline amid the escalating confrontation between Washington, Israel and Tehran.

The anticipated sanctions have already sent the Iranian rial to a record low, adding to mounting economic pressures on a country that has endured extensive US sanctions for nearly five decades.

Bessent, in an editorial published by the Financial Times, said the objective of the new campaign was to “sever every economic lifeline” sustaining the Iranian government until Tehran was isolated economically.

While the US has imposed extensive sanctions on Iran over decades, including fresh penalties in June against entities accused of helping Tehran evade existing restrictions, the latest measures are expected to go beyond individual companies and financial institutions.

The US Treasury chief also warned countries maintaining commercial ties with Tehran to “consider the consequences” of continuing to do so.

The planned measures come amid an already severe economic squeeze on Iran. Washington has maintained a broad sanctions regime against Tehran since the 1979 Islamic Revolution, targeting its oil industry, financial institutions, shipping networks and other strategic sectors.

The latest US campaign is also unfolding against the backdrop of a prolonged naval blockade that has significantly restricted the flow of goods into Iran from abroad.

Iran Threatens Retaliation

Iran, meanwhile, has warned that any new American economic offensive will trigger a severe response.

Mohsen Rezaei, Iran’s new security chief and a former commander of the Islamic Revolutionary Guard Corps, said Tehran would respond in a “seismic manner” to the latest US measures.

Rezaei, who now serves as a military adviser to Iran’s Supreme Leader, Ayatollah Mojtaba Khamenei, also warned Gulf countries against cooperating with Washington. He said countries that participated in the new sanctions would be regarded as enemies of Iran and could become targets for retaliation.

His warning has heightened concerns over the security of the Persian Gulf and the wider global energy market.

Since the US and Israel launched their war against Iran nearly six months ago, Iranian forces have attacked US military positions in Jordan and several Gulf states, including the United Arab Emirates, Kuwait and Saudi Arabia. Some of the attacks have resulted in fatalities and serious injuries.

Rezaei also threatened further action against oil tankers operating in the Persian Gulf and on the Omani side of the Strait of Hormuz.

He warned that Iran could ensure that “not even a single drop of oil” leaves the region if the confrontation escalates.