US Treasury warns firms to shun Iran as tensions flare in the Gulf

U.S. Treasury Secretary Scott Bessent cautioned foreign governments and private firms to stay clear of Iran, indicating that Washington is contemplating new sanctions that would encompass airlines, sea transport and digital-currency channels. He emphasized that the United States is conducting extensive outreach to entities that might aid Tehran and will systematically penalize “bad actors.” The warning aligns with the Trump administration’s Operation Economic Outcast initiative, which seeks to force Iran’s trade partners to choose between doing business with Tehran or keeping access to the U.S. financial system.

The statement follows a recent escalation that saw Iran fire on U.S. allies in the Gulf after an American airstrike that allegedly hit a wedding party, and subsequent missile and drone attacks on U.S. bases in Jordan, as well as interceptions by Kuwait, the UAE, Bahrain and Kurdish forces in Iraq near Irbil. The U.S. military also struck Iranian rocket launchers on an island in the Strait of Hormuz, accusing Iran of planning to lay mines. Bessent’s message underscores a broader effort to tighten economic pressure on Tehran as the conflict intensifies.