Treasury chief says duration of Iran conflict remains uncertain amid new sanctions
Treasury Secretary Scott Bessent said he cannot predict how long the Iran war will last, while announcing fresh sanctions targeting Iranian air, maritime, crypto and gold sectors.
During an interview, Treasury Secretary Scott Bessent admitted he cannot specify whether the Iran war will end in days, weeks or months, but emphasized that the United States is applying unprecedented pressure through new sanctions. The measures focus on Iran's air, maritime, cryptocurrency and gold interests. President Donald Trump is said to be considering further economic tactics in conjunction with potential military escalation and a negotiated deal.
Iran's military headquarters issued a statement claiming the U.S. is preparing new strikes, which Tehran vows to meet with force. A report indicated Trump had approved a strike against Yemen's Iran-aligned Houthis after a call from Crown Prince Mohammad bin Salman, but later reversed the decision. Iran's foreign minister Abbas Araghchi arrived in New York ahead of the UN General Assembly, joined by President Masoud Pezeshkian. Meanwhile, Brent crude opened at $104 per barrel and U.S. fuel prices hit record highs.
Why it matters
The story shows how U.S. economic pressure and uncertain military plans shape the ongoing Iran conflict and global energy markets.
How this story developed
- Sep 9 Trump predicts Iran conflict will cease right after U.S. midterms
- Sep 14 President Donald Trump posted on Truth Social that the United States is willing to discuss a settlement with Iran to halt the ongoing Middle-East conflict.
- Sep 14 Iranian cargo vessel hit near Qeshm Island, killing one crew member and prompting Oman to delay the Hormuz talks.
- Sep 16 The House of Representatives voted 220-204 to adopt a resolution that orders President Trump to end the ongoing war in Iran, marking a rare bipartisan effort. Seven Republicans—Thomas Massie (KY), Tom Barrett (MI), Warren Davidson (OH), Brian Fitzpatrick (PA), Nancy Mace (SC), Mariannette Miller-Meeks (IA) and Zach Nunn (IA)—joined Democrats in supporting the measure, three more than in prior votes. Rep. Jason Crow led the push, emphasizing that both parties are fed up with the conflict, now in its seventh month. On the same day, Rep. Massie, who lost his primary, filed impeachment articles against Secretary of War Pete Hegseth, accusing him of executing unlawful war orders. Public sentiment remains strongly against the war, with an Ipsos poll indicating 71% of Americans favor withdrawal. The resolution reflects growing congressional pressure to rein in presidential war powers.
- Sep 16 Seven Republicans voted for the resolution, three more than in earlier votes.
- Sep 17 Trump announced a side meeting with Gulf leaders at the UN General Assembly to discuss a post‑war strategy.
- Sep 17 The United States will permit a reduced Iranian delegation headed by President Masoud Pezeshkian to join the UN General Assembly High Level Week, despite the ongoing seven-month conflict with Israel and the United States.
- Sep 18 The United States granted visas to Iran’s president and foreign minister for the UN meeting.
- Sep 18 UN fact‑finding mission reported that two February U.S. strikes knowingly risked civilians and noted Iranian crimes against humanity.
- Sep 19 Iran has reportedly reached out to the United States directly seeking a deal.
- Sep 20 The Khatam al-Anbiya headquarters announced it possesses information about an imminent US offensive and warned that any new strike would provoke sustained attacks on American installations and regional allies. Secretary-general Mohsen Rezaei added Iran could hit US vessels anywhere in the Indian Ocean. The statement referenced unverified reports of a meeting in Europe and suggested some Arab states had approved the plan. The US State Department issued a security alert warning of possible escalation.
- Sep 21 Iran sent demands to the United States and Houthis launched attacks on Saudi oil facilities.
- Sep 21 Iran added that any regional country assisting the United States would be considered a participant in the conflict.
- Sep 21 Trump announced he would seek a meeting with Iranian President Masoud Pezeshkian at the UN General Assembly.
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