{"id":1621,"date":"2026-08-24T21:36:47","date_gmt":"2026-08-24T21:36:47","guid":{"rendered":"https:\/\/smartmovinghome.com\/?p=1621"},"modified":"2026-08-24T21:36:47","modified_gmt":"2026-08-24T21:36:47","slug":"bessent-unveils-iran-sanctions-regime-he-admits-could-blow-up-global-economy","status":"publish","type":"post","link":"https:\/\/smartmovinghome.com\/?p=1621","title":{"rendered":"Bessent Unveils Iran Sanctions Regime He Admits Could \u201cBlow Up\u201d Global Economy"},"content":{"rendered":"
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The Trump administration has announced it will roll out a sweeping sanctions regime against Iran over the coming weeks, with the goal of \u201csever[ing] every economic lifeline\u201d to Iran and its 92 million residents.<\/p>\n

The \u201ceconomic d-day\u201d plan, dubbed \u201cOperation Economic Outcast,\u201d was unveiled by Treasury Secretary Scott Bessent in a press conference on Monday. The plan involves a wide-ranging sanctions regime, including an expanded mechanism for secondary sanctions that could be unrolled in coming weeks if Iran doesn\u2019t soften its positions in negotiations or if allied countries like China don\u2019t comply. <\/p>\n

The department said that it has identified 60 entities and countries it\u2019s prepared to impose secondary sanctions on soon. Bessent also called for the shuttering of every branch of the state-owned Bank Melli, Iran\u2019s largest bank, which has operations in about a dozen countries, including the U.K. and France.<\/p>\n

\u201cOur objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,\u201d Bessent said. \u201cBeginning today, the actions of [the] Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the [Islamic Revolutionary Guard Corps] and the evil Iranian regime.\u201d<\/p>\n

Bessent claimed that his department has identified \u201cevery node, every facilitator, every network\u201d that Iran maintains financially, including those used to evade the U.S.\u2019s existing decades-long sanctions campaign. When President Donald Trump first announced the plan last week, Bessent said the U.S. is aiming to \u201ccollapse\u201d the Iranian government.<\/p>\n

Iran\u2019s currency fell to a record low ahead of Bessent\u2019s announcement on Monday.<\/p>\n

The sanctions will likely roil global markets even further while doing little to alleviate the energy crisis created by the U.S.-Israeli war on Iran, analysts said. Throughout negotiations to end the war, Iran has remained firm on its positions \u2014 which include sanctions relief \u2014 in return for the opening of the Strait of Hormuz.<\/p>\n

Indeed, Iran projected resolve in the face of the announcement. The secretary of Iran\u2019s national security council Mohsen Rezaei said that \u201cnot a single drop of oil will be exported\u201d from anywhere in the Persian Gulf if the U.S. broadens its economic campaign. <\/p>\n

Read more El-Sayed\u2019s GOP Opponent Attended 3 AIPAC-Hosted Fundraisers in 1 Day<\/a><\/p>\n

\u201cIran will regard any country\u2019s participation in or support for America\u2019s economic war against the Iranian people as an act of war,\u201d Rezaei added.<\/p>\n

The U.S.\u2019s threats also raise risks of escalating tensions with China, a major trading partner with Iran. If China defies the U.S.\u2019s sweeping new rules, it could face the ire of the Trump administration \u2014 a major test of a relationship that would pit the world\u2019s two largest economies against each other.<\/p>\n

Bessent even acknowledged in his press conference that implementing the sanctions regime all at once would cause major global turmoil. <\/p>\n

\u201cWhy would I want to blow up the global financial system?\u201d he said.<\/p>\n

Meanwhile, scholars have long said that sanctions have a disproportionate effect on civilians. Research last year found that U.S. and EU sanctions killed 38 million people between 1971 and 2021, with the U.S.\u2019s sanctions having the worst effects. Essential civilian needs are often impacted by these policies, with the U.S.\u2019s sanctions on Iran having badly disrupted Iranians\u2019 access to goods like medicine.<\/p>\n

The National Iranian American Council wrote in a blog post that the Iranian economy was already suffering under the weight of nearly six months of war, noting that the value of the currency plummeted in anticipation of the announcement.<\/p>\n

\u201cThe first effects of Washington\u2019s new economic offensive are therefore reaching ordinary Iranians before the offensive itself has even been fully unveiled,\u201d the group said.<\/p>\n

Read more Jeffries Secretly Met With Kushner to Find \u201cCommon Ground\u201d on Immigration<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The treasury secretary pledged to \u201csever every economic lifeline\u201d to Iran and its 92 million residents.<\/p>\n","protected":false},"author":1,"featured_media":1620,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"\nBessent Unveils Iran Sanctions Regime He Admits Could \u201cBlow Up\u201d Global Economy - Smart Moving Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/smartmovinghome.com\/?p=1621\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bessent Unveils Iran Sanctions Regime He Admits Could \u201cBlow Up\u201d Global Economy - 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