U.S. Treasury Secretary Scott Bessent unveiled the details of the “Economic D-Day” plan announced by President Donald Trump Monday evening, threatening a major expansion of sanctions against Iran and entities worldwide that continue doing business with Tehran.
BREAKING: Treasury Secretary Scott Bessent gives Iran a major economic ultimatum, declaring the regime can choose between isolation and economic collapse or a return to normalcy and an opportunity to rejoin the global economy.
The announcement marks the launch of an aggressive,… pic.twitter.com/Ixru09tuIy
— Fox News (@FoxNews) August 24, 2026
According to Bessent, the U.S. is launching an “economic assault” on Tehran’s financial networks and will impose sanctions on roughly 60 entities, individuals, and vessels linked to Iran. The sanctions will target five key sectors: digital assets, technology, gold, aviation, and shipping.
Bessent added that each country will be given a deadline to end its business with Iran, and countries that don’t meet the timeline will face economic isolation alongside the Tehran regime. “No one should test our resolve,” he warned.
🚨 JUST IN: Treasury Sec. Scott Bessent says CHINA is NOT being given a free pass from his Iran sanctions
Q: Is the trade truce with China blocking you?
BESSENT: I want to make clear here today NO ONE IS ABOVE THE REACH OF US SANCTIONS. If they facilitate transactions and are… pic.twitter.com/niSez9AyTs
— Eric Daugherty (@EricLDaugh) August 24, 2026
The Treasury Secretary said the administration will also cut off dollar access for entities helping launder Iranian money, and that starting today, potential revenue sources funding the Revolutionary Guards and the Iranian regime will be blocked.
Washington is also considering revoking general licenses that permitted financial transfers to Iran. According to Bessent, the sanctions also target a network of intermediary companies and vessels from the “shadow fleet” operating in the United Arab Emirates, Hong Kong, China, Singapore, Switzerland, and other European countries.
🚨 IT’S OFFICIAL: Treasury Sec. Scott Bessent expects a “major financial institution” to be SANCTIONED this week for aiding Iran
This is huge!
“I would expect you will see a MAJOR announcement of a financial institution being sanctioned by the end of this week.”
He’s NOT… pic.twitter.com/lqV7SP9WFY
— Eric Daugherty (@EricLDaugh) August 24, 2026
Addressing China, Bessent said “no one is above the reach of U.S. sanctions,” emphasizing that Iran faces a choice: complete isolation or a return to the global economy.
Bessent also said that by the end of the week, a major financial institution is expected to be hit with sanctions as part of the expanded U.S. pressure on the economic system enabling Iran to continue operating in the international arena.