“Toughest Sanctions In History. We Will Collapse This Regime”. “You Are Either With Us Or Against Us”. China Buys 80% Of Iran’s Shipped Oil And Calls Sanctions Counterproductive. Iran Dismisses Threat As “Admission Of Enemy’s Humiliating Defeat”. Trump Already Threatened Penalties For Any Nation Offering Iran A “Lifeline”
According to CNBC, US Treasury Secretary Scott Bessent will hold a press conference on Monday, August 24, to unveil what he is calling the greatest campaign of “coordinated economic isolation in the history of the world” against Iran; describing the announcement as “Economic D-Day” in a Financial Times opinion piece published Sunday.
Bessent told CNBC on Thursday that the US would impose the “toughest sanctions in history” on Iran and deliver a “one-two punch” combining the existing naval blockade with sweeping new economic measures. “It is going to work in Iran and we are going to collapse this regime,” he said, adding that any nation continuing to do business with Iran through oil purchases, financial transfers or shipping would face the “full might” of the US government. “You are either with us or against us,” he warned allies.
The announcement comes as China, which buys more than 80 per cent of Iran’s shipped oil, rejected Bessent’s approach. Beijing said “sanctions and pressure do not help resolve the problem” and called on parties to resolve the issue through diplomatic means. Iran’s Islamic Revolutionary Guard Corps dismissed the threat as an “implicit admission of the enemy’s humiliating defeat.” Iranian Foreign Minister Abbas Araqchi called Trump’s earlier comments an attempt to exert coercive pressure.
The press conference also follows a separate Treasury move to support long-duration bonds amid rising yields suggesting Bessent is simultaneously managing geopolitical and domestic financial pressure.
Economic D-Day. The regime dismisses it. China is buying the oil. The sanctions still have to work.
Check out our previous coverage of the US-Iran war on The Trusted Times.
