U.S. Treasury Secretary Scott Bessent in Washington, D.C., U.S., August 20, 2026. REUTERS/Kevin Lamarque
Wednesday night, August 19 on his Truth Social platform, U.S. President Donald Trump threatened the Iranian regime with "Economic Warfare and Isolation on an unprecedented scale." And according to Politico Playbook's Dasha Burns, the operation being weighed in the Trump administration would give Treasury Secretary Scott Bessent an even greater role in the war than Defense Secretary Pete Hegseth.
Trump, on Truth Social, posted, "No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale. Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread. Today, I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences. Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are."
Trump continued, "This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat. These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide. IRAN WILL NEVER HAVE A NUCLEAR WEAPON. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. President DONALD J. TRUMP."
In a Thursday afternoon post on X, Burns reported that with Iran, the Trump administration is thinking primarily in economic terms at this point.
Burns tweeted, "After this Trump Truth Social post last night, a senior WH official tells me that there's no talk about military escalation against Iran at this point, and the president is focused primarily on strangling Iran economically. That means Treasury Secretary Scott Bessent is more involved in the war than Defense Secretary Pete Hegseth at this point, the official indicated."
When Trump launched his war against Iran in late February, he promised a quick operation. But almost six months later, the war is raging on with no resolution in sight.
Critics of the war, both liberal and conservative, are arguing that Trump has spent billions in U.S. tax dollars on the operation without actually removing the fundamentalist Iranian regime from power.
