Bessent Unleashes ‘Operation Economic Outcast’ on Iran | Balance of Power: Late Edition 08/24/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Rep. Jake Auchincloss (D-MA) says he will not vote “for a single dollar” to fund what he calls a failed and illegal war, arguing Congress must prevent it from becoming a “forever war.” Stephen Moore, former Tr

Treasury Secretary Scott Bessent on Monday issued a global warning for countries to cut any financial ties with Iran or risk being cut off from the U.S. dollar system, launching a new economic pressure campaign against the Islamic Republic as the military front has reached a stalemate six months into the war.  Called “

Treasury Secretary Scott Bessent says U.S. secondary sanctions in the pipeline aim to block all potential sources of revenue for Iran, telling nations to cut economic ties to Tehran or face U.S. retaliation

What matters more for oil prices is how hard U.S. sanctions hit China, Iran’s biggest oil buyer, and whether Beijing pushes back.

The Trump admin aims to choke off revenue streams to the Iranian regime by pressuring secondary countries to stop doing oil, energy and business deals with Tehran.

Treasury Secretary Scott Bessent held a press conference to announce new sanctions against Iran in a "sustained financial operation" that the Trump administration is calling "Operation Economic Outcast."