The US, through Treasury Secretary Scott Bessent, has threatened sanctions against countries and “60 entities” if they continue to maintain economic ties with Iran. According to The Guardian, the US is seeking to achieve through economic pressure what it has so far failed to achieve militarily.
It remains unclear how far Donald Trump intends to go with the sanctions and exactly whom they will target. China is Iran’s largest trading partner, yet Chinese financial institutions that may have economic ties with Iran are absent from the list of “60 entities.” India and Russia also maintain economic ties with Iran.
Bessent compared the “decisiveness” of the measures to D-Day, the Allied landings in Normandy during World War II.
“Today, in that same spirit, we are launching an economic assault on Iran’s financial connections around the world,” Bessent said on 24 August. “Our goal is to cut off every financial lifeline sustaining this tyrannical regime until Tehran stands alone.”
Iran, meanwhile, says it will respond to the US sanctions with a broad range of measures. Its response could include land, sea or air operations, as well as cyberattacks. According to Reuters, Iran could also take measures affecting oil exports from the Persian Gulf.
Sources: Guardian, Reuters
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