The Trump administration is preparing what Treasury Secretary Scott Bessent called the “single greatest financial offensive ever” against Iran, as Tehran threatens tougher measures against vessels using the Strait of Hormuz.
Bessent said the new campaign would target Iran’s economic lifelines and countries or entities helping Tehran move petroleum and finances. The measures would expand an existing sanctions regime covering banking, energy, aviation and cryptocurrency, according to the report.
Iranian lawmakers also advanced a measure requiring ships using the strategic waterway to pay for services provided by Tehran, although the provision still requires final approval.
Meanwhile, Omani Foreign Minister Badr Albusaidi is expected in Tehran for talks on Tuesday. Despite the tensions, oil prices declined in Asian trading Monday. No confirmed attacks were reported in the strait over the preceding 48 hours, although maritime officials warned of possible mine risks.
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The US administration expects to launch a "financial offensive" against Iran on Monday, US Treasury Secretary Scott Bessent said:https://t.co/feggD03qd8 pic.twitter.com/3uyp0Y1CUW
— TASS (@tassagency_en) August 24, 2026
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