WASHINGTON (dpa-AFX) - US Treasury Secretary Scott Bessent has warned that Iran can expect the so-called 'Economic D-Day' that President Donald Trump announced last week, on Monday.
'At dawn begins an economic D-Day - the single greatest financial offensive ever marshaled against an adversary,' Bessent wrote in an op-ed published in the Financial Times Sunday.
Bessent will roll out tough economic sanctions that target Iran and its trade partners at a press conference at 1 p.m. ET.
He did not specify the measures to be imposed.
The Trump administration will target 'fearful nations' that practice 'appeasement' by engaging in economic and financial transactions with the Iranian government, he added.
'They would do well to consider the consequences of sustaining it,' Bessent said, referring to Iran's allies.
In a statement on Truth Social Wednesday, Trump said he will take tougher economic actions against Iran and any country that supports it for failing to strike a deal with the United States.
Trump said he is announcing 'the most crushing economic operation ever taken against any country'.
He called it 'Economic Warfare and Isolation on an unprecedented scale.'
Iran responded to the U.S. threats in strong words.
'If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf,' Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said in a statement posted on social media Sunday.
'Iran will regard any country's participation in or support for America's economic war against the Iranian people as an act of war.'
Rezaei also warned U.S. allies in the Middle East that Iran will 'target their interests.'
It has been a week since a 60-day Memorandum of Understanding between Iran and the U.S. expired, and amid uneasy lull in hostilities, Iran intermittently attacks vessels in the Strait of Hormuz and the Gulf Of Oman.
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