US Treasury Secretary Scott Bessent said Thursday that the United States will impose what he called the toughest sanctions in history against Iran, paired with an existing blockade, and warned that any country continuing to do business with Iran would face enforcement action by the US Treasury and government.
Bessent vows 'toughest sanctions in history' against Iran, promises details Monday
US Treasury Secretary Scott Bessent said Thursday that the United States will impose what he called the toughest sanctions in history against Iran, paired with an existing blockade, and warned that any country continuing to do business with Iran would face enforcement action by the US Treasury and government.
Bessent made the remarks in an interview with CNBC, reiterating statements made by President Donald Trump on Truth Social on Wednesday, in which Trump announced Iran would face what he described as 'an ECONOMIC D-DAY' and warned that any country allowing its financial institutions, businesses, airports, or government entities to provide 'any type of lifeline to Iran' would itself face 'TREMENDOUS Economic Consequences.'
Bessent said he would hold a press conference on Monday to detail what the economic pressure would entail. He warned that allies who continued doing business with Iran — whether transferring money or buying Iranian oil — would face 'its full might and force' from the US Treasury and government.
Bessent also echoed Trump's assertion that the United States controls the Strait of Hormuz. 'We do have control of the strait,' he said, adding that oil markets were 'misinterpreting' what the economic pressure means, and that large amounts of energy were still moving through the southern lane.
Bessent cited Venezuela and Cuba as examples he said demonstrated the effectiveness of combining a blockade with economic pressure: 'It worked in Venezuela once we put up the blockade. It is working in Cuba right now. And it is going to work in Iran.'
- The source does not state what specific sanctions or enforcement mechanisms will be announced at Monday's press conference.
- The source does not state what specific steps the US would take against countries that continue doing business with Iran.
- The source does not identify which US allies, if any, have been formally notified of the threatened enforcement measures.
- The source does not provide independent verification of Bessent's claims regarding US control of the Strait of Hormuz or the current movement of energy through it.
- The source does not state the current legal or operational status of the described naval blockade of Iran.
- The source does not state how Bessent's characterization of the Venezuela and Cuba blockade outcomes is supported or contested by third parties.
Read the original at The Jerusalem Post