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US Treasury warns it will sever all economic ties with Iran
The Treasury Secretary also warned that any country financially partnering with Iran would face isolation, while Iran said it could shut down oil exports from the region if the war continues.
The US Treasury Secretary, Scott Bessent, warned that the United States will sever all economic ties with Iran as the conflict with Iran reaches what he called an endgame, framing it as an “economic D-Day.” BBC Business reports he said any nation that partners with Iran financially would also be isolated.
Bessent’s remarks follow prior shifts and deadline extensions from the Trump administration on earlier threats, according to BBC Business. The report also notes that Iran dismissed his comments and said it would shut down oil exports from the region if the war continues.
BBC Business adds that Iran issued a warning to shipping not to pass through the Strait of Hormuz without its permission, and that about one fifth of the world’s oil and gas typically passes through the strait.
The report cites Bessent’s comments as coming from an opinion piece for the Financial Times and says he did not detail what specific economic pressure would be applied, with the expectation of further explanation in a US press conference.