U.S. Treasury chief vows to cut every ‘economic lifeline’ of Iran

The US Treasury Secretary, Scott Bessent, announced an aggressive strategy of 'economic asphyxiation' against Iran, expanding secondary sanctions to sever all economic lifelines. The sanctions target critical sectors including digital assets, technology, gold, aviation, and shipping. The US warned of severe consequences, including isolation and removal from the US dollar system, for any entity or country that continues to facilitate transactions with Iran, explicitly mentioning Chinese banks. This move is framed as an 'economic D-Day' in the ongoing West Asia conflict between the US/Israel and Iran, which has seen a stalemate and Iran's control over the Strait of Hormuz.