America’s Iran D-Day has many fatal flaws
Washington is trying to finish economically what it could not achieve militarily in Iran. But China, shadow finance and years of sanctions-proofing make that difficult.
Sign up now: Get ST's newsletters delivered to your inbox
US Treasury Secretary Scott Bessent said Washington will target the foreign banks, shipping networks, exchange houses, trading companies and governments that keep Iran connected to the global economy..
PHOTO: REUTERS
After almost six months of war, Operation Epic Fury has given way to Operation Economic Outcast. With military force having failed to produce Iran’s capitulation, the United States has turned to another familiar weapon: economic coercion.
On social media, US President Donald Trump billed it as the “MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY”. Treasury Secretary Scott Bessent called it an “economic D-Day” for Iran, pointing out that the US will go beyond squeezing Tehran directly and also target the foreign banks, shipping networks, exchange houses, trading companies and governments that keep Iran connected to the global economy.