Bessent announces sweeping financial offensive against Iran

BREAKING: Treasury Secretary Scott Bessent says the U.S. will launch what he described as the "single greatest financial offensive ever marshalled against an adversary" against Iran, according to the FT.
Bessent warned that countries acting as financial arteries for Tehran could share in Iran's economic isolation, with nations continuing to do business with the country potentially becoming a "global pariah."
That puts major Iranian trading partners, including China and Gulf states, in a difficult position.
Iran has simultaneously warned that countries participating in U.S. economic restrictions will be treated as enemies.
The collision between secondary sanctions and Iranian retaliation risks expanding the economic consequences of the conflict well beyond the two countries.