United States Treasury Secretary Scott Bessent said Washington is 'suffocating' Iran’s leadership through what he described as a sweeping economic blockade launched alongside a military offensive. He said the campaign began under President Donald Trump’s maximum pressure order and was expanded with a Treasury initiative called Economic Fury to intensify financial restrictions.

Bessent said the measures aim to cut off the Iranian government’s ability to fund its military forces, claiming the leadership cannot pay its soldiers. He described the effort as a government-wide push designed to isolate Tehran economically while a fragile ceasefire remains in place.

The United States and Iran have both imposed restrictions in the Strait of Hormuz, a critical route for global energy shipments. While Iran has limited most shipping through the passageway, the United States Navy is blocking vessels traveling to or from Iranian ports as negotiations continue.

Bessent also said the Treasury Department is targeting individuals and entities attempting to send money to the Islamic Revolutionary Guard Corps. He accused the force of corruption and said the United States is tracking overseas assets that it intends to preserve for the Iranian people after the conflict ends.