U.S. Treasury Secretary Scott Bessent points as reporters raise their hands during a press conference to outline further sanctions against Iran, at the Treasury Department in Washington, D.C., U.S., Aug. 24, 2026.
Evelyn Hockstein | Reuters
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U.S. Treasury Secretary Scott Bessent points as reporters raise their hands during a press conference to outline further sanctions against Iran, at the Treasury Department in Washington, D.C., U.S., Aug. 24, 2026.
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Aug 25, 2026 at 6:03 AM UTC · Updated vor 5 Minuten · 2 Min. Lesezeit
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Hello, this is Leonie Kidd coming to you from London.
It's sound and fury from the Trump administration as it unveils its economic war against Iran. But the announcement has raised a lot of questions about how it could impact the Iranian regime's so-called "enablers."
Read on.
What you need to know today
"We are launching an economic onslaught against Iran's financial connections around the globe." That's the warning from U.S. Treasury Secretary Scott Bessent as he detailed his plan to isolate Iran's economy by imposing secondary sanctions.
"Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system," he said. "The clock just started ticking."
Operation Economic Outcast
The plan has raised immediate questions over whether it would target China as a so-called "enabler" of Iranian foreign economic activity. China is the biggest buyer of Iranian oil, suggesting the Administration's efforts to cut off the regime could target Chinese companies.
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