US threatens 'economic D-Day' against Iran, Iran vows to halt oil exports if economic war continues

The U.S. is preparing to roll out new economic sanctions targeting Iran's trade partners, with Treasury Secretary Scott Bessent calling it 'the single greatest financial offensive ever marshalled against an adversary.' In response, Iran has threatened to shut down all oil exports from the Gulf if the 'economic war continues,' and an Iranian official stated that any country supporting new U.S. economic measures would be seen as an 'act of war.' This escalation follows weeks without military strikes but no meaningful talks to end the six-month-old conflict, which has impacted shipping in the Strait of Hormuz and pressured world fuel prices.