Bessent Says Trump Destroyed Iran's Military, Buried Nuclear Program, Launches Economic "D-Day"

Treasury Secretary Scott Bessent said the Trump administration is entering the "final phase" against Iran, shifting its actions toward an unprecedented economic offensive aimed at isolating Tehran.

Bessent Announces "Economic D-Day"

On Sunday, Bessent posted on X that President Donald Trump has "destroyed Iran's military capabilities, destroyed nearly 100% of its military factories, and buried its nuclear program."

"We are now entering the final phase," the Treasury Secretary said.

He added, "At dawn, the economic D-Day begins—the largest financial offensive ever launched against an adversary."

He accused Iran of relying on the expectation that Tehran could retaliate while U.S. law enforcement could be negotiated.

"The Islamic Republic has survived by disguising extortion as security guarantees," Bessent said.

He added, "Under President Trump, that era is over."

U.S. Targets Iran's Economic Lifelines

Bessent also warned governments and entities that continue to support Iran, saying those "afraid of defying Tehran's dangers should not underestimate the cost of testing Washington."

He said the administration would use "every agency, every authority" to pursue its goals.

"Our objective is to cut off every economic lifeline sustaining this authoritarian regime until Tehran stands isolated," Bessent said.

President Donald Trump has destroyed Iran's military capabilities, destroyed nearly 100% of its military factories, and buried its nuclear program.

We are now entering the final phase. At dawn, the economic D-Day begins—the largest financial offensive ever launched against an adversary.

— Treasury Secretary Scott Bessent, August 23, 2026

Trump Escalates Economic Pressure

Last week, Trump announced comprehensive economic actions against Iran, calling them "the most devastating economic actions ever taken against any country."

He warned that countries and entities supporting Tehran through oil smuggling, fund transfers, and shipping networks would face severe consequences.

Trump dubbed the actions "economic D-Day" and said the measures were designed to "weaken" Iran's power projection capabilities, while reiterating that "Iran will never have a nuclear weapon."

Iran Warns of Economic Pressure

Iran's security chief Mohsen Rezaei warned Gulf states against supporting Trump's economic pressure campaign, saying Tehran could treat them as enemies and target their interests.

He also warned that sustained economic pressure could lead to disruptions in oil exports through the Strait of Hormuz, while Iranian military officials threatened an "overwhelming, punitive, and devastating" response to new U.S. sanctions.

These threats have raised concerns over further shipping disruptions and tighter global oil supplies, particularly affecting China, a major buyer of Iranian oil.

Rezaei previously stated that the Strait of Hormuz would only reopen after the U.S. ends its war and blockade, releases Iran's frozen assets, and agrees to a regional ceasefire.