August 23, 2026 — Bessent promises ‘economic D-Day’ ahead of expected Iran sanctions | CNN

Get the latest updates on the war with Iran here. • Economic squeeze: US Treasury Secretary Scott Bessent warned an “economic D-Day is coming” for Iran in a Financial Times op-ed published ahead of his Monday news conference, where he’s expected to unveil details on the United States’ pressure campaign on Tehran. • Hormuz threat: Iran warned that ships violating transit rules in the strait could face penalties including detention or confiscation. Top security chief Mohsen Rezaei also threatened to halt oil flow out of the Strait of Hormuz should any neighboring countries join the US’ economic crackdown. Some oil companies have developed new tactics to enable their tankers to pass undetected through the waterway. • Fractures in Tehran: There are signs of growing differences within the Iranian leadership. President Masoud Pezeshkian said Tehran “cannot continue with war forever” and he defended the agreement reached with the US in June, despite the supreme leader’s purported misgivings. US Treasury Secretary Scott Bessent warned in an op-ed Sunday that an “economic D-Day is coming for Iran” and threatened countries that do business with Tehran but gave littl