Scott Bessent vows to freeze Iranian assets and cut off dollar access

Key Points:

• U.S. Treasury Secretary Scott Bessent announced a stringent economic campaign targeting Iran, warning that entities doing business with the Islamic Revolutionary Guard Corps (IRGC) could be cut off from the U.S. dollar financial system.
• Bessent revealed that the U.S. has identified IRGC offshore accounts and luxury real estate holdings worldwide, including in the British Virgin Islands, and plans to freeze these assets.
• The campaign aims to dismantle the regime's financial networks, recover stolen assets for the Iranian people or victims of terrorism, and prevent Iran from developing nuclear weapons or supporting proxy terrorism.
• Bessent emphasized cooperation with international partners, including China, highlighting shared goals such as preventing Iran's nuclear armament and ensuring freedom of navigation in the Strait of Hormuz.
• This economic pressure campaign follows President Trump's commitment to an "economic D-Day" against Iran, aiming to severely impact the country's economy and limit its regional influence.