US to Tighten Economic Blockade on Iran...Bessent: "Unprecedented Pressure"

The United States is set to introduce new measures to further economically isolate Iran.

Reuters Yonhap News

Scott Bessent, U.S. Treasury Secretary, said in an interview with Newsmax on the 13th (local time), "There will be an additional announcement next week," and added, "We will take unprecedented measures in isolating a country economically."

Secretary Bessent explained that the Trump Administration has significantly strengthened financial pressure in line with its 'maximum pressure' policy on Iran, which was resumed last year. This pressure campaign has intensified since the U.S. military operation against Iran began in February. Last year, President Donald Trump directed the Treasury Department to reinforce sanctions and enforcement measures against violators of the Iran-related sanctions, and to continue pressuring the Iranian regime and its proxies by cutting off their sources of funding.

Secretary Bessent stated, "A year ago, President Trump ordered maximum pressure on the Iranian regime, and the Treasury Department has carried that out."

He noted that the Treasury is targeting Iranian bank accounts, virtual asset wallets, and overseas assets, while also blocking funds flowing to regime leadership and government entities. He further explained that since the start of the U.S. military campaign 'Operation Epic Fury' against Iran early this year, the focus has shifted to the economic realm, with the Treasury concentrating on financial and economic pressure, dubbed 'Economic Fury.'

Secretary Bessent said, "We have transitioned from Epic Fury to Economic Fury," adding, "In accordance with President Trump's directive, we have again raised the level of pressure."

The U.S. Treasury Department explained that through the Economic Fury actions, it blocked tens of billions of dollars that could have flowed to the Iranian regime and its proxies. The Treasury has specifically targeted Iran's shadow financial networks, oil industry, virtual asset holdings, arms procurement systems, and sanction evasion activities.

Secretary Bessent also revealed that U.S. blockade measures targeting Iranian ports remain ongoing alongside financial pressure. Since renewed Iranian attacks on international vessels in the Strait of Hormuz in July, the U.S. Treasury has further toughened sanctions on Iran’s shipping and financial networks. He commented, "By combining unprecedented levels of economic isolation with the blockade of the Strait of Hormuz, we will effectively block the inflow and outflow of cargo through Iranian ports."

This content was produced with the assistance of AI translation services.