A day after warning Iran of an economic “D-Day”, US Treasury Secretary Scott Bessent issued a fresh warning to countries and businesses that continue to support Tehran financially. Speaking at a news conference, Bessent said any country or entity that helps Iran move or hide money could face US action and potentially lose access to the US dollar system.
The US has introduced new sanctions aimed at cutting off Iran’s sources of income. Bessent also warned that countries that continue doing business with Iran could face secondary sanctions, although he did not name any specific nations. He said countries can no longer remain in what he called the “grey spaces” of the ongoing conflict.
“Those who enable Tehran do not discount the cost of testing Washington’s resolve,” Bessent said, warning that countries cannot benefit from the US-led financial system while supporting Iran.
He urged governments to choose between economic growth and isolation, and between peace and what he described as terrorism.
“Any economic engagement of any kind with this murderous regime will expose those responsible to the full reach of American power,” Bessent said.
China, Turkey and the United Arab Emirates are among Iran’s biggest trading partners.
The latest US campaign is aimed at putting further pressure on Iran’s economy, which has already been weakened by years of sanctions. Bessent said countries that refuse to join the US pressure campaign could also face isolation.
“Any entity that facilitates money laundering on behalf of Iran will be removed from the US dollar system. The clock just started ticking,” he said.
Bessent further warned that companies or organisations helping Iran carry out financial transactions or convert its oil into revenue could also be targeted.
The US says the latest sanctions are designed to cut Iran off from money needed to support its economy, adding to the pressure created by earlier sanctions and a US naval blockade.
Iran responses to US sanctions
Finance Minister Ali Madanizadeh said Tehran is “fully prepared” to counter sanctions while top negotiator Mohammad Bagher Ghalibaf brushed off the US threats.
“Apparently, (the US) have now decided to try another failure. We have long been expecting these days and were well aware of the plans they had. The government has a two-year plan and is fully prepared, and has been prepared, for these developments,” Madanizadeh said.
The official accused the US of wanting to “ wage economic terrorism” against Iran.
“We know how to play this game. This time, they should not think our response will be purely defensive and that we will only defend ourselves. They should also expect us to go on the offensive,” he added.
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