Bessent doubles down on Trump warnings: ‘Entering the endgame’ on Iran

Treasury Secretary Scott Bessent on Sunday previewed the Trump administration’s economic offensive against Iran, set to begin Monday.

Echoing President Trump’s rhetoric on the military operations against the Islamic Republic , Bessent said the U.S. has “dismantled Iran’s capabilities, destroyed nearly 100 percent of its military factories, and buried its nuclear program.”

The Treasury secretary wrote on social media , “We are now entering the endgame. At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary.”

Bessent is expected to address the looming sanctions in a press conference Monday afternoon.

Trump said last week his administration will undertake a “CRUSHING” economic operation against Iran, equating it to “Economic Warfare and Isolation on an unprecedented scale.”

In a post on Truth Social , the president warned other countries that allowing their “financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran” would result in economic consequences.

In conjunction with the military strikes against Iran, the Treasury Department has targeted the regime financially via its “ Operation Economic Fury ” initiative.

Among other actions, the department has frozen Iranian assets around the world, cracked down on the regime’s shadow banking networks and sanctioned the Persian Gulf Strait Authority, which the Iranian government created to handle shipping in the Strait of Hormuz.

On Sunday, Bessent said the latest economic operation will “leverage every agency, every authority and action many assumed we would never summon.”

He added, “Our objective is to sever every economic lifeline that sustains the tyrannical regime until Tehran stands alone.”

In advance of the economic operation from Washington, Iran’s rial currency dipped to a record-low 2.02 million to the U.S. dollar early Monday morning, The Associated Press reported.