Treasury Secretary Scott Bessent has issued a strong warning to international entities supporting Iran, urging them to "stay away" as the United States escalates its economic pressure campaign against the Islamic Republic. Bessent stated that the administration aims to economically "asphyxiate" the Iranian regime through a series of unprecedented sanctions.
"We are telling friends and foes, do not deal with this evil regime," Bessent said in remarks to "Fox & Friends." "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 external players that have been instrumental in sustaining Tehran's economy. He pointed to recent sanctions against Dubai branches of an Egyptian bank accused of facilitating over $1.8 billion in transactions to Iran since 2025.
Russian President Vladimir Putin was also identified as a focus of the administration's concerns, following his recent pledge to support Iran and resist U.S. sanctions. Bessent indicated that new Treasury authorities allow for broader targeting of Iran's support network, including sectors such as airlines, maritime operations, and digital assets.
"We are going to systemically go through and take every bad actor like that out," Bessent stated. "This is all hands on deck. Teams from Treasury, State Department and DOW have gone out of the world, and we are having very fulsome talks with anyone supporting the regime."
According to Bessent, signs of Iran's deepening economic crisis are already apparent, citing long gasoline lines, a collapsing currency, inflation exceeding 100 percent, and difficulties in paying military personnel. These remarks coincide with the Trump administration's intensified strategy against Tehran, which combines military actions and a blockade with sweeping sanctions designed to isolate the nation economically. "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 explained.