economyMonday, August 24, 20262 sources

U.S. Treasury Secretary Scott Bessent Threatens Sanctions Against Nations Trading with Iran

U.S. Treasury Secretary Scott Bessent warned that nations trading with Iran will face sanctions, stating no country, including China, is beyond American reach. The warning comes as part of a broader effort to isolate Iran economically. The message was delivered during a press conference, with Bessent urging global leaders to cut ties with Iran.

Finance Minister Scott Bessent, speaking on August 24, 2026, announced that the U.S. would impose sanctions on any country engaging in trade with Iran. The statement was reported by VG, with Bessent emphasizing that the U.S. would not tolerate economic cooperation with Iran. The Norwegian Broadcasting Corporation reported that Bessent also stated that countries would have a limited time to comply with Trump's directive to sever ties with Iran. Bessent further warned that other nations might follow suit to 'isolate' Iran, and that any support for Iran would result in American sanctions.

Timelines

US-Iran Confrontation and Geopolitical TensionsUS-Iran Confrontation and Geopolitical Tensions: Economic and Maritime Disputes

Sources

IndependentVGAug 24, 09:42 PM
USA Warns of "Economic Strangulation" of Iran

Finance Minister Scott Bessent threatens sanctions against all countries that trade with Iran.

PublicNorwegian Broadcasting CorporationAug 24, 09:11 PM
USA urges cutting economic ties with Iran

– Trump calls leaders around the world and urges them to cut economic ties with Iran, says U.S. Treasury Secretary Scott Bessent during a press conference on Monday afternoon. Bessent also states that the countries in question will have a limited time period to carry out Trump's wishes. – No one, including China, is outside the reach of American sanctions. Bessent says they expect other countries to take similar actions to "isolate" Iran. – A country that supports Iran should be prepared to face American sanctions, says Bessent.