Iran faces 'greatest financial offensive ever', says US treasury secretary
US Treasury Secretary Scott Bessent has threatened Iran with a severe financial offensive, aiming to sever all economic ties with the country. This follows ongoing tensions and the blockage of the Strait of Hormuz, which has impacted global oil prices.
Why it matters
Escalating economic warfare between the US and Iran threatens global energy security and could further destabilize the Middle East.
The US Treasury Secretary Scottt Bessent/SCREENGRAB
The US treasury secretary has threated Iran with "the single greatest financial offensive ever", claiming the US-Israel war with Iran was "entering its endgame".
Scott Bessent said the US would sever all economic ties with the country in "an economic D-Day" and that any nation partnering with Iran financially would also be isolated.
Bessent's threat to the Iranian regime follows several U-turns and extended deadlines from US President Donald Trump's administration on previous threats.
Iran dismissed Bessent's comments and said it would shut down all oil exports from the region "if the war continues", according to news agency Reuters.
The Iranian regime has also issued a new warning to shipping not to pass through the Strait of Hormuz without its permission, the agency reported.
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