From the Liveblog of
Monday, August 24, 2026
US Treasury chief Bessent warns countries to halt Iran economic activity until regime ‘stands alone’
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US Treasury Secretary Scott Bessent lays out a fresh US sanctions campaign against Iran, warning that every country has a defined timeline to shut down activities with the Islamic Republic identified by Washington or else face action from the US Treasury.
“Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent says.
The US is expanding its Iran-related secondary sanctions threats to target five major sectors, as Washington seeks to impose an “Economic D-Day” on Tehran.
“Treasury has issued determinations against five critical sectors — digital assets, technology, gold, aviation, and shipping — that the Iranian regime uses to try to prop up its failing economy,” the department says in a statement as Bessent speaks.
Bessent says Washington will end access to the US dollar system for those laundering Iranian money.
“Any entity that facilitates money laundering on behalf of Iran will be removed from the US dollar system. The clock just started ticking,” Bessent tells reporters.
Bessent says US President Donald Trump is making phone calls to world leaders with specific requests to cease their interactions with Iran.
The Times of Israel Community.