Scott Bessent

US Treasury revokes 'critical node' of Iranian access to US dollars in latest Tehran sanctions

The new sanctions come two days after the Treasury cracked down on what it called “far-left terrorist networks.”

Signage is seen at the United States Department of the Treasury headquarters in Washington, DC, US, August 29, 2020.
US President Donald Trump reacts as he speaks to the media with US Treasury Secretary Scott Bessent behind him, on the day of a NATO leaders' summit in Ankara, Turkey, July 8, 2026.

Strategy or physical withdrawal: What does Washington’s shift from airstrikes to sanctions signify?

US Secretary of the Treasury Scott Bessent takes questions from reporters as he speaks during a press conference in Washington, DC on August 24, 2026. Bessent, in a column for the Financial Times, declared that an "economic D-Day" had begun against Tehran on Monday.

Iran economic sanctions leading to extremist regime elements gaining power, dissident says - report

US Defense Secretary Pete Hegseth speaks during a Senate Armed Services Committee hearing on US President Donald Trump's FY2027 budget request for the Department of Defense on Capitol Hill in Washington, DC, US, April 30, 2026.

US can still strike Hormuz targets, Hegseth warns as 'Economic D-Day' takes aim at Iran's economy


US Treasury announces 'Operation Economic Outcast' on Iran following warning of 'economic D-Day'

"It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran," declared US Treasury Secretary Scott Bessent.

US Treasury Secretary Scott Bessent announces a new set of sanctions against Iran, describing them as "an economic D-Day", in the Cash Room at the Treasury Department on August 24, 2026 in Washington, DC.

Treasury Secretary Bessent says US entering 'endgame' with Iran, will sever economic lifelines

"Any remaining tie to Tehran will hasten the economic ostracism of countries and entities, whether that tie be purposefully constructed or wilfully ignored."

US Treasury Secretary Scott Bessent speaks to reporters at the White House in Washington, DC, US, August 20, 2026.

Trump says Iran 'would love' to make a deal with the US but isn't prepared to make the right one

Trump also said that the US had total control over the "entire region having to do with the Strait of Hormuz."

US President Donald Trump boards Air Force One at Joint Base Andrews, Maryland, US, August 7, 2026

Treasury Secretary Bessent says US will 'squash' Iranian economy, collapse 'murderous regime'

"I see lots of reports that said, 'oh, well, this has never worked.' It does work, because we have a combination. It is a one-two punch," Bessent said.

US Treasury Secretary Scott Bessent stands behind U.S. President Donald Trump who speaks to the media on the day of a NATO leaders' summit in Ankara, Turkey, July 8, 2026.

US hits Hezbollah with fresh sanctions, emphasizing ties to Iranian government

The Treasury Department redesignated the group "for service to the Iranian regime under the command of Iran’s Islamic Revolutionary Guard Corps-Quds Force," according to a statement.

Supporters of Lebanon's Hezbollah wave flags while commemorating Israel’s withdrawal from southern Lebanon in 2000, in the southern suburbs of Beirut, Lebanon, May 25, 2026.

US national debt tops $40 trillion for first time, doubled under presidents Trump, Biden

The federal government's IOU has now more than doubled in less than a decade, from $19.95 trillion when US President Donald Trump was sworn in for the first time in January 2017.

The US Department of the Treasury Building in Washington, DC, US, July 11, 2026.

US imposes sanctions on ICC President Tomoko Akane, Treasury Department confirms

The sanctions freeze any US assets the individuals may have and essentially cut them off from the US financial system, with which almost all internationally operating banks have close ties.

Judge Tomoko Akane arrives prior to the announcement of the International Criminal Court (ICC) verdict that sentenced Malian Jihadist police chief Al Hassan Ag Abdoul Aziz Ag Mohamed Ag Mahmoud to 10 years in jail for war crimes and crimes against humanity.

US Treasury Secretary Bessent says US to apply measures 'never seen before' on Iran

"It 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," Bessent said.

U.S. Vice President JD Vance speaks next to Treasury Secretary Scott Bessent and acting Attorney General Todd Blanche during a cabinet meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., May 27, 2026.

Senators press Rubio, Bessent on lack of counter-evasion sanctions on Russia

The US last imposed major sanctions on Russia in October 2025, when the Treasury Department targeted Russian oil companies Rosneft and Lukoil.

(File Photo) Marco Rubio and Scott Bessent arrive before US President Donald Trump, First Lady Melania Trump, Britain's King Charles III and Queen Camilla participate in an arrival ceremony on the South Lawn of the White House in Washington, DC, on April 28, 2026.

US targets UAE-based crypto exchange over alleged Iran sanctions evasion scheme

“Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat,” Secretary of the Treasury Scott Bessent said in a statement.

 The bear market in crypto erased $2 trillion in market value and led to several bankruptcies among crypto firms like Celsius, Voyager Digital and Three Arrows Capital, among others.