On August 24, U.S. Treasury Secretary Bessent confirmed that formal economic isolation measures against Iran will be announced. In an article for the Financial Times, Bessent stated that the economic offensive against Iran will be the largest financial assault in history, entering its decisive phase. He warned that any country supporting the Iranian regime will face the same isolation. The goal of the U.S. is to cut off the economic lifeline supporting the Iranian regime until Tehran is left isolated and helpless. Bessent indicated that the U.S. will utilize all enforcement tools to impose secondary sanctions on countries and companies doing business with Iran, focusing on activities related to purchasing Iranian oil, transferring funds to Iran, and maritime transport of Iranian crude oil. He added that large-scale military action is not expected to be necessary anymore.
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