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Scott Bessent claims the U.S. economic offensive against Iran is the single greatest financial offensive ever.

Treasury Secretary Scott Bessent stated that the current economic campaign against Iran represents the single greatest financial offensive ever launched by the U.S. government. This strategy prioritizes economic sanctions over immediate military strikes, leading to a market reaction where oil prices fell more than 3% on Tuesday. Scott Bessent noted that by applying maximum economic pressure, a large-scale kinetic restart of war is unlikely for now. While Defense Secretary Pete Hegseth maintained that military strikes remain a possibility if Iran overplays its hand, the administration announced a shift toward financial warfare. The new sanctions plan includes potential ramifications for China, Iran's largest trading partner. However, analysts suggest that targeting China directly could risk financial disruption and damage the fragile U.S.-China détente. Meanwhile, Iranian Economy Minister Ali Madanizadeh expressed confidence that Tehran is fully prepared to withstand the sanctions with a two-year plan to manage the economic impact.

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