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Tue, 25 Aug 2026

Tue, 25 Aug 2026 Iran says it is ready for what US calls 'greatest financial offensive ever'

The US calls its latest sanctions on Iran an "economic D-Day", but Tehran says it has a plan to counter them.
US Treasury Secretary Scott Bessent has announced that the country will "end" Iran's threat, rather than simply managing it, as part of an "economic D-Day" plan against the nation. In response, Iranian Economy Minister Ali Madanizadeh stated that the country is "fully prepared" for the US sanctions and has a two-year plan to counter them. The US Treasury Department has mapped out networks used by Iran to evade sanctions and trade oil, and has issued determinations against five sectors: digital assets, technology, gold, aviation, and shipping. The department has also imposed sanctions on nearly 60 entities, individuals, and vessels. Iran's oil exports have already been severely impacted by the conflict, with China being one of the main buyers. However, Iranian officials claim that neither China nor Russia has accepted the US measures, and predict that other countries will resist them as well. The Chinese Foreign Ministry stated that sanctions and pressure tactics do not help and that Beijing will take necessary actions to protect its interests. Meanwhile, Iran warned it would shut down all oil exports from the region if the war continues, and issued a fresh warning to ships not to pass through the Strait of Hormuz without permission. US Treasury Secretary Scott Bessent emphasized that the US is launching an "economic onslaught" against Iran's financial connections around the globe. He stated that Iran faces two paths: complete global isolation or a path back to normalcy with an opportunity to rejoin the global economy.