US vows âeconomic asphyxiationâ of Iran with new sanctions
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Finance
Business
August 24, 2026
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WASHINGTON, United States (AFP)âUnited States (US) Treasury Secretary Scott Bessent on Monday laid out plans for the âeconomic asphyxiationâ of Iran, expanding Washingtonâs secondary sanctions threats and warning of dire consequences for countries that do not join the campaign.
The announcement comes almost six months into a war on Iran that has ground to a stalemate, with stalled peace talks and Tehran blocking most traffic through the crucial Strait of Hormuz.
Bessent earlier said the United States was declaring an âeconomic D-Dayâ on Iran, but his announcement named no specific countries beyond Iran and gave no timelines.
Politics
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