The United States is preparing to launch what Treasury Secretary Scott Bessent has described as the largest financial attack ever mounted against an adversary. The impending economic offensive coincides with a declaration from President Donald Trump that Iran is completely collapsing, just hours before Washington rolls out a comprehensive sanctions package.
Writing in the Financial Times ahead of a scheduled Monday press conference to detail the measures, Bessent stated that the confrontation with Tehran has entered a final phase. He invoked the 1943 Tehran conference—where Allied leaders mapped out the military campaign leading to the Normandy landings in the Second World War—to argue that US military force has largely dismantled Iran’s military capabilities and weakened its nuclear program, leaving the administration positioned to exert maximum economic pressure.
Operation Economic Outcast and Secondary Sanctions
The upcoming actions include the launch of Operation Economic Outcast, an initiative aimed at foreclosing any remaining options for the Iranian regime to re-enter the global economy. According to a source familiar with US Treasury plans cited by Reuters, Washington is set to expand secondary sanctions to target foreign entities and countries maintaining commercial ties with Tehran.
Treasury Secretary Scott Bessent warned that global leaders must make a stark choice between the United States and Iran, stating that any nation maintaining economic ties with the regime will feel the full reach of American power. “No nation should expect to enjoy the rewards of our system while working with a regime that seeks to destroy it,” Bessent declared, adding that an unnamed financial institution could face sanctions by the end of the week.
The threat of an impending financial blockade has already driven the Iranian currency to historic lows. Exchange rate monitoring websites reported that the rial fell past an unprecedented two million to the US dollar.
Bessent characterized the Iranian government as a malign force over the past 47 years that has repressed its population, driven a potentially strong economy into decline, and sustained regional proxies to spread terrorism. He noted that President Trump has brought the Iranian economy to a state of historic weakness characterized by severe inflation and currency degradation.
Regional Diplomatic and Security Responses
In Beijing, Chinese President Xi Jinping called for a diplomatic solution to the Middle East crisis during talks with Jordan’s King Abdullah.
According to a Chinese foreign ministry statement, Xi emphasized that the sovereignty and security of regional countries must be respected, highlighting Jordan’s unique and important role. King Abdullah, whose US-allied kingdom has navigated months of fallout from the war, has been on an official visit to China since August 18.
Pakistani Army Chief Asim Munir arrived on Monday alongside Pakistani Interior Minister Mohsin Naqvi for meetings with Iranian Interior Minister Eskandar Momeni.
Mohsen Rezaei, Iran’s security chief, threatened an earthquake-like retaliation if Washington moves forward with its plans, specifically warning Gulf neighbors against joining the economic campaign. Rezaei cautioned that if surrounding nations participate in the US-led economic war, no oil will leave the Persian Gulf through the Strait of Hormuz, and alternative export routes from the region will be targeted.
