US Treasury Chief Threatens Iran With ‘Never Before Seen’ Economic Isolation
US Treasury Secretary Scott Bessent said on 13 August that Washington is preparing “never-before-seen” punitive economic measures against Iran, to be enforced alongside an ongoing blockade of Iranian ports to all traffic.
“Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country,” Bessent said.
Describing the approach as a “one-two punch,” Bessent said the measures “will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports.”