US Treasury Secretary Bessent Announces 'Unprecedented' Sanctions on Iran

US Treasury Secretary Scott Bessent evaluated the new steps to be taken against Iran during a television program he attended. Bessent stated that they accelerated financial sanctions under the 'maximum pressure' policy, which was reinstated by US President Donald Trump last year and intensified following military operations against Iran in February.

Noting that new announcements will be made next week, Secretary Bessent said, “We will implement the heaviest economic sanctions in history applied to a country. This will be a combination of an economic isolation the world has never seen before and the ongoing blockade in the Strait of Hormuz that will prevent any entry or exit to Iranian ports.”

Bessent conveyed that the Treasury Department is targeting Iran's global assets, emphasizing that restrictions have been imposed on bank accounts and crypto wallets to cut off payments to the regime's leadership and government. In July, the US also expanded its sanctions covering Iran's maritime and financial networks following attacks on international ships in the Strait of Hormuz.