G02, Al Tala-Block D, The Square Al Mamzar, Dubai, UAE P.O. Box 213944 RU
RU
Home News US Treasury Secretary Targets Iran's Economic Networks

US Treasury Secretary Targets Iran's Economic Networks

Aug 24, 2026
51 min
4
Aug 24, 2026 18:30
US Treasury chief vows to cut every 'economic lifeline' of Iran

## US Intensifies Economic Pressure on Iran

US Treasury Secretary Scott Bessent announced a strategy aimed at crippling Iran's economy by targeting its financial networks. This move is part of a broader effort to isolate Tehran globally.

## Expansion of Sanctions

Bessent detailed plans to expand secondary sanctions, warning countries that fail to comply with US measures against Iran. The Treasury Department has identified five key sectors—digital assets, technology, gold, aviation, and shipping—as targets for these sanctions.

## Global Implications

The US is urging international partners to cease economic interactions with Iran, emphasizing that entities involved in Iranian money laundering will be excluded from the US dollar system. Bessent stressed that no country or institution is beyond the reach of US sanctions, including those in China.

## Context of the Conflict

This announcement comes amid ongoing tensions following a conflict initiated by the US and Israel against Iran earlier this year. The situation remains tense, with peace talks at a standstill and Iran's strategic Strait of Hormuz largely inaccessible.

Read the full story at the source

What you need to know to get Emirates ID?

Leave your details and get a guide as a gift to avoid mistakes

Guide illustration
Article contents