U.S. Treasury Sec calls on allies to crack down on Iran economically
U.S. Treasury Secretary Scott Bessent had a message for allies during the G7 conference in Paris on Monday, pressuring nations to economically squeeze Iran
by Summer Lane | May 18, 2026
In direct contradiction to claims from the Iranian media, U.S. Treasury Secretary Scott Bessent urged allies of the United States to crack down on the Iranian “war machine” with sanctions.
During remarks at a meeting of the G7 finance ministers in Paris, Bessent resolutely went after Iran as the stalemate between the U.S. and the Middle Eastern regime hit nearly 80 days.
“We call upon all our G7 and indeed all of our allies and the rest of the world to follow the sanctions [on the regime] so that we can crack down on the illicit finance that is fueling the Iranian war machine and get this money back to the Iranian people,” he said.
Bessent’s comments about sanctions against Iran come amid a report from an Iranian media outlet that claimed the U.S. had offered to temporarily waive sanctions on Iranian oil during negotiations, as reported by LindellTV.
The claims from Iran have not been confirmed by U.S. officials.
Secretary Bessent’s latest comments about Iran are another step forward in the Treasury Department’s mission, “Operation Economic Fury,” which aims to put maximum pressure on the Islamic Revolutionary Guard Corps’ oil operations.
“As Iran’s military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions,” said Bessent in a recent statement, explaining U.S. strategy.
He continued, “Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy.”
Operation Economic Fury has taken actions on several fronts, according to the department: disrupting Iranian projected oil revenue, freezing almost half a billion dollars in Iranian cryptocurrency, and targeting Iranian banking networks.
As the ceasefire and, presumably, negotiations with Iran, continue, President Trump said over the weekend that the “Clock is Ticking” for the Middle East.
“For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them, TIME IS OF THE ESSENCE!” the president warned on Truth Social.
