" It is now time for world leaders to make to decision between America and Iran," Bessent said. The United States has launched what Treasury Secretary Scott Bessent described as an "unprecedented" economic campaign against Iran, targeting the country’s financial networks, oil revenues and global economic connections as Washington seeks to tighten pressure on Tehran.

“Today at President Trump’s direction. The United States Treasury has begun Operation Economic Outcast, an unprecedented campaign against the Islamic Republic of Iran and its enablers.

In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries. Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe, around the globe,” he said.

“Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone. Iran’s fanatics devote themselves to death to America and seek nuclear weapons to do just that.

They have murdered and maimed more of our citizens and service members than any other terrorist regime on Earth, and they have been at war against America, their neighbors in the Gulf, and much of the world for 47 years.” Bessent said that the sanctions would target 5 key sectors: Digital assetsTechnologyGoldAviationShipping" It is now time for world leaders to make to decision between America and Iran," he added.

He said continued economic engagement with what he called a “terrorist regime” would expose those involved to US financial power. Bessent presented Tehran with two possible paths: complete global isolation or a return to normal economic relations.

Just before Bessent's address the US Treasury had sanctioned nearly 60 Iran-linked entities, individuals and vessels across nuclear, missile, cyber and oil networks. The measures also targeted a network of broker companies supporting shadow-fleet vessels operating across the United Arab Emirates, Hong Kong, China, Singapore, Switzerland and Europe.

The measures come as Iran’s economy faces mounting pressure. 02 million to the US dollar, while food prices have surged since the war began.

Rice prices have risen by around 60%, while beef has become more than 150% costlier. “IRAN IS COMPLETELY COLLAPSING!!!