Iran faces 'economic D-Day', US treasury secretary warns

What the report says

The BBC World News reports that US Treasury Secretary Scott Bessent has warned Iran of what he called an “economic D-Day,” saying Washington intends to cut off all economic ties with Tehran and isolate any country that continues financial dealings with it. He framed the move as part of a broader pressure campaign during the US-Israel conflict with Iran, which he said was moving toward its “endgame.”

According to the BBC, Bessent made the remarks in a Financial Times opinion piece and did not spell out the full measures at that stage, though he was expected to expand on them at a press conference in Washington. The report says the threat comes after repeated shifts in the Trump administration’s approach to Iran and follows earlier sanctions on foreign banks and companies doing business with Tehran.

Iran rejected Bessent’s comments and warned, via Reuters reporting cited by the BBC, that it could shut down all oil exports from the region if the war continues. Tehran also renewed warnings over shipping through the Strait of Hormuz, a vital route for global energy trade. The BBC notes that the strait normally carries about one-fifth of the world’s oil and gas, underscoring why any disruption could have wider economic consequences.

The article places the latest warning in the context of long-running US-Iran tensions, including the collapse of the 2015 nuclear deal and the restoration of US sanctions after Donald Trump withdrew from that agreement in 2018.