US vows 'economic asphyxiation' of Iran with new sanctions

WASHINGTON, Aug 25: US Treasury Secretary Scott Bessent on Monday laid out plans for the "economic asphyxiation" of Iran, expanding Washington's secondary sanctions threats and warning of dire consequences for countries that do not join the campaign.

The announcement comes almost six months into a war on Iran that has ground to a stalemate, with stalled peace talks and Tehran blocking most traffic through the crucial Strait of Hormuz. Bessent earlier said the United States was declaring an "economic D-Day" on Iran, but his announcement named no specific countries beyond Iran and gave no timelines.

"Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone," Bessent told journalists. �"AFP