Bessent says US is ‘entering the endgame’ in Iran ahead of ‘economic D-Day’
Treasury Secretary Scott Bessent said on Sunday the United States is “entering the endgame” in the monthslong conflict with Iran as an “economic D-Day” is set to begin on Monday.
In an opinion piece in the Financial Times, Bessent wrote about the strategy behind the planned slew of economic policies that he called “the single greatest financial offensive ever marshaled against an adversary.” President Donald Trump said earlier in the month the U.S. would begin shifting away from military pressure toward economic policies meant to further harm Tehran’s economy and isolate it from global commerce.
“[Countries] who sever Iran’s remaining financial and commercial connectivity will reinvigorate their own,” Bessent wrote. “They will deepen their access to global capital, reinforce confidence in their markets and attain the standing they seek in the economy.”
Bessent said Trump and “the overwhelming might of our military have significantly dismantled Iran’s military capabilities” and “decimated Iran’s economy to a point where the rial has never been weaker and inflation has rarely been higher.” Secondary sanctions imposed on nations that purchase oil from or conduct business with Tehran will be the primary component of the pressure campaign, and Bessent is expected to announce the full details at a press conference on Monday.
“The alternative for [countries] who tether themselves to Tehran is the foreclosure of any path to lasting prosperity,” Bessent wrote. “Illicit finance will flourish, as it so often does, where confidence has collapsed. And any nation that serves as a financial artery of a withering regime should expect to share in its isolation. To become a sanctuary for terror is to become, in the eyes of the United States, a global pariah.”
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Bessent also cited “the continued blockade in the Strait of Hormuz” in the initial announcement. The international waterway has been the focal point of failed negotiations and military tensions between the U.S. and Tehran since the conflict broke out on Feb. 28.
Speaker of the House Mike Johnson (R-LA) echoed a similar sentiment to Bessent on Sunday, saying he believes the U.S. will be entering a “new phase” in the conflict. Senate Majority Whip John Barrasso (R-WY) also praised the administration on Sunday for the strategy.
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