US declares 'economic D-Day' against Iran, Tehran threatens Gulf oil routes

In late August 2026, the United States escalated its pressure campaign against Iran. Treasury Secretary Bessent announced what he called an 'economic D-Day' and 'the single greatest financial offensive ever marshaled against an adversary,' saying the US is entering an 'endgame' with Iran and will sever its economic lifelines. President Trump also threatened an economic war, intensifying existing sanctions.