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US plans an “economic D-Day” to pressure countries doing business with Iran
Treasury Secretary Scott Bessent said the campaign’s mechanics will be detailed on August 24, as Washington expands enforcement against firms involved in money transfers, oil purchases, or seaborne transfers to Iran.
The BBC reports that President Donald Trump says the United States will launch an “economic D-Day” against any country that does business with Iran, framing the effort as economic consequences meant to pressure the conflict toward either an outcome by force or negotiation.
The outlet says Treasury Secretary Scott Bessent indicated the specific mechanics of the new approach are not yet clear, but he promised to reveal details during a news conference on August 24. Bessent also told CNBC the US is prepared to act against any country, whether friend or foe, that supports Iran by transferring money, buying Iranian oil, or conducting seaborne sea transfers, with US enforcement aimed at those involved.
According to the BBC, Vice-President JD Vance described the sanctions as a “new phase” of the conflict in which economic pressure is the most effective tool available. He added that the US believes Iran has faced more pressure than Washington and that the administration intends to sustain that pressure.
The BBC also notes that Iran has long been under significant US sanctions since the Islamic Republic’s early years, and that the current campaign intensified after the first Trump administration withdrew from the JCPOA nuclear deal in 2018. In the current conflict, the US government has already announced “Operation Economic Fury,” combining Treasury-coordinated sanctions on regime financial flows with a naval blockade against Iranian ports.