Treasury Secretary to announce Iran sanctions
U.S. Treasury Secretary Scott Bessent announced an aggressive campaign of economic sanctions against Iran, describing it as a major financial offensive. The Trump administration is pressuring global allies to cease business dealings with Iran to isolate the regime.
Why it matters
This escalation represents a significant shift in U.S. foreign policy, potentially destabilizing global energy markets and straining diplomatic relations with international partners.
Treasury Secretary Scott Bessent will hold a press conference Monday to announce sanctions against Iran that he described to CNBC as the greatest campaign of "coordinated economic isolation in the history of the world."
"At dawn begins an economic D-Day — the single greatest financial offensive ever marshalled against an adversary," Bessent said in an opinion piece he authored in The Financial Times on Sunday.
The Teasury Secretary told CNBC on Thursday that the U.S. will "collapse" the Islamic Republic with the "toughest sanctions in history."
The Trump administration demands that U.S. allies and the rest of the world stop doing business with Iran, Bessent said. The U.S. will use its "full might" against anyone who does not comply, he told CNBC.
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