U.S. Treasury Secretary Scott Bessent speaks to reporters at the White House in Washington, D.C., U.S., Aug. 20, 2026.
Kevin Lamarque | Reuters
The U.S will unveil “the single greatest financial offensive ever” against Iran on Monday, Treasury Secretary Scott Bessent said, while Tehran threatened to seize vessels that violate transit rules in the Strait of Hormuz.
The looming escalation comes as both sides missed a 60-day ceasefire window to reach a deal, closing off the formal truce mechanism aimed at ending the Middle East war now in its sixth month.
In a post on X Sunday evening stateside, Bessent said “at dawn begins an economic D-Day,” framing the coming measures as the “endgame” for Washington’s campaign against Tehran.
The new measures will add to an extensive sanctions regime already targeting Iran’s banking, energy, aviation and cryptocurrency sectors. The Trump…
