Bessent warns Iran's outside backers to 'stay away' as Trump seeks to 'asphyxiate' Tehran's economy
Treasury Secretary Scott Bessent warned foreign entities supporting Iran to cease dealings, as the Trump administration intensifies sanctions and a blockade to isolate Tehran's economy.
Treasury Secretary Scott Bessent issued a stark warning to Iran's global financial backers on Wednesday, telling them to "stay away" as the Trump administration escalates its campaign to economically cripple the Islamic regime. In an interview with "Fox & Friends," Bessent said, "We are telling friends and foes, do not deal with this evil regime. We know who you are, you know who you are, and if we have to, we will put you out of business."
The Treasury chief specifically targeted financial institutions and other outside players that continue to provide Tehran with financial lifelines. He pointed to recent sanctions imposed on the Dubai branches of an Egyptian bank, which he said had funneled more than $1.8 billion to the Iranian regime since 2025. Bessent also singled out Russian President Vladimir Putin, who recently pledged support for Iran and vowed to resist U.S. sanctions, placing him at the center of the administration's warning.
Bessent emphasized that new Treasury authorities have expanded the administration's ability to target Iran's support network across airlines, maritime operations, and digital assets. "We are going to systemically go through and take every bad actor like that out," he said. "This is all hands on deck. Teams from Treasury, State Department, and DOW have gone out into the world, and we are having very fulsome talks with anyone supporting the regime."
The Treasury secretary said signs of economic distress inside Iran are already visible, citing hours-long gas lines, a collapsing currency, inflation above 100 percent, and the government's inability to pay its troops. His remarks come as the Trump administration intensifies a multi-faceted pressure campaign against Tehran, combining military strikes and a naval blockade with sweeping sanctions aimed at isolating the regime from the global economy.
"We had these six weeks of successful kinetic strikes, then we have imposed the blockade, which is quarantining and isolating the country, and now we are applying sanctions like have never been seen before that are going to asphyxiate the regime," Bessent said. The administration's strategy appears designed to cut off all external support for Iran, with Bessent warning that any entity continuing to do business with the regime will face similar consequences.
