US Prepares 'Economic D-Day' Sanctions Against Iran and Partners

U.S. Treasury Secretary Scott Bessent is preparing to unveil a major economic offensive against Iran, which he has characterized as an "economic D-Day." This strategy aims to impose the toughest sanctions in history to collapse the Iranian regime by targeting oil revenues, financial networks, and the countries providing economic lifelines. The campaign follows a failed maritime blockade and military strikes, shifting the U.S. approach toward full economic isolation.

The financial offensive coincides with an existing naval blockade in the Strait of Hormuz, which has already reduced Iranian oil exports from two million to approximately 400,000 barrels per day. In response, Iran has threatened to halt all oil exports from the Gulf and restrict shipping vessels in the strait. Iranian President Masoud Pezeshkian has acknowledged the severe economic difficulties facing the country, while other Iranian officials dismissed the U.S. threats as "desperate."

The Government of the People's Republic of China, Iran's primary oil customer, has rejected the U.S. pressure. Foreign Minister Wang Yi and spokesperson Lin Jian have urged all parties to return to dialogue to avoid repeating "the old script of recurring conflict." Beijing has warned it will take necessary measures to safeguard its interests if secondary sanctions are imposed. These escalating tensions complicate the planning for a scheduled state visit by Chinese President Xi Jinping to Washington on September 24.