Treasury Secretary Scott Bessent issued a threatening ultimatum Monday with a message that CNN’s Jeremy Diamond said would “ripple around the world.”
Speaking during a press conference at the Treasury Department in Washington, D.C., Bessent unveiled the Trump administration’s new “economic D-Day” plan, officially named Operation Economic Outcast, which is designed to financially squeeze Iran into submission through the use of secondary sanctions and other measures.
“Nations that facilitate any interactions with the regime should quickly heed our message: those who stand with the United States will reap the rewards of our partnership — those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime,” Bessent warned.
“The United States expects action… Every country has a defined timeline to shut down activities we have identified. Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system. The clock just started ticking.”
Operation Economic Outcast was teased by Bessent on Sunday in an op-ed he penned for the Financial Times. Almost immediately, multiple experts warned that the plan was not only destined to fail, but could very well backfire, with one expert — political scientist Robert Pape — warning that it could potentially “shut down critical shipping lanes and spike oil prices overnight.”
Treasury Sec. Scott Bessent threatens entire world with consequences for ignoring its new sanctions plan against Iran, says countries have a "defined timeline" to take action.
"Any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar… pic.twitter.com/oAYMLtwxOW
— Alexander Willis (@ReporterWillis) August 24, 2026