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New U.S. sanctions will hit ordinary Iranians hard. That may be the whole point as the crashing economy stirs fresh protests

Fortune ·
New U.S. sanctions will hit ordinary Iranians hard. That may be the whole point as the crashing economy stirs fresh protests

Treasury Secretary Scott Bessent laid out plans for an “economic D-Day” against Iran on Monday, seeking to further isolate the regime from the rest of the world.

The U.S. will expand its use of secondary sanctions against entities and countries that engage with Iran.

Bessent also said any country that helps Iran will be removed from the dollar-based financial system.

In addition, he targeted five of Iran’s “most vital lifelines”: digital assets, technology, gold, aviation, and shipping.

But Esfandyar Batmanghelidj, founder and CEO of the Bourse & Bazaar Foundation think tank, said those are actually lifelines for the Iranian people, not the regime.

“Digital assets and gold are how ordinary Iranians protect their savings from inflation,” he explained in a post on X .

“Technology keeps Iranians connected with the world.

Aviation keeps Iranian families connected with loved ones across borders.

Shipping is how essential goods, including food and medicine, reach Iran.” The sanctions come as the Trump administration has pivoted away from resuming all-out war, hoping that economic warfare will accomplish what bombs and missiles couldn’t.

The Treasury Department didn’t respond to a request for comment.

To be sure, crypto currencies, technology and front companies in shipping are also ways the Iranian regime skirts Western sanctions, allowing it to continue earning valuable revenue.

But the United Arab Emirates also shut down all trade and transactions with Iran earlier this month, cutting off a vital for engagement with the global economy.

Meanwhile, the U.S. war and naval blockade have inflicted a catastrophic toll on Iran’s economy, which was already in shambles before the conflict started.

Inflation has soared above 80%, with prices for certain food staples up 100%.

Read the full article on Fortune ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on fortune.com — the content belongs to Fortune.

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