US Treasury Secretary Bessent announces absolute isolation campaign against Iran

US Treasury Secretary Scott Bessent has announced an intensified economic blockade against Iran, transitioning from a maximum pressure campaign to what he termed an ‘absolute isolation campaign.’ The strategy aims to cripple Tehran’s finances by cutting off oil exports, targeting cryptocurrency holdings, and restricting access to international banking networks and shipping operations.

Bessent stated that Iran is currently facing a severe financial crisis with ‘negative cash flow’ and no oil currently on the water. He claimed that US military operations have significantly degraded Iran’s naval, air, and missile production infrastructure. Furthermore, he asserted that the United States now controls the Strait of Hormuz, noting that while Iranian forces continue to launch drone attacks, they lack the radar capabilities to effectively obstruct maritime traffic.

For Iran to return to the international financial system, Bessent outlined that the nation must abandon its nuclear ambitions and cease support for militant proxies.