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Saturday, Sep 26, 2026

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Bessent Says Iran Pressure Campaign Is Delivering Results as Rial Hits Record Low↩︎
topics 🌐 Geopolitics📈 Global Markets tags PoliticsUS Foreign PolicyWorldIran keywords BessentScott BessentMahan AirTreasuryJonathan BurkeStreet JournalNigel KushnerKushnerMohammad Mokhber

Treasury Secretary Scott Bessent said the US campaign to isolate Iran economically is "delivering results," citing Turkey and Oman halting Mahan Air flights, the UAE stopping all flights by Iranian airlines, and top commercial banks in the UAE and Turkey ending transactions with Iran. Bessent, who dispatched Treasury teams across the globe under Operation Economic Outcast to demand action against Tehran, thanked the governments of the UK, Turkey, Oman and the UAE and said there is "more to be done to prevent Tehran from carrying out its terrorist agenda."

Bessent said Iran's leadership has acknowledged the economic toll of the war as the rial has fallen to record lows. The campaign has reached more than 50 countries, with Treasury official Jonathan Burke warning governments they must choose between trading with Iran and keeping ties with Washington, the Wall Street Journal reported. British lawyer Nigel Kushner, who has advised companies on Iran sanctions for two decades, said he had never seen such intense pressure on Iran's banking and aviation sectors. "The U.S. has achieved greater impact in a matter of weeks than during the lengthier campaigns commenced from 2010," Kushner said.

Iranian airlines have kept flying despite the September 23 deadline Bessent set to shut them down worldwide, with flights from Tehran to Turkey, China, Pakistan, Thailand and Russia still operating and a Mahan Air aircraft landing in Guangzhou after the restrictions took effect. Bessent has warned that any airport or company providing Iranian carriers with fuel, landing services or ticket sales will be "knocked out of the dollar system." Mohammad Mokhber, adviser to Iran's Supreme Leader, signaled Tehran would not accept the curbs quietly: "Flight in the region is either free for all, or for no one. If Iran cannot operate flights and receive airport services, then no one in the region can either."

Image via @afp on X
Continues from Thursday, Sep 24
US Treasury Pressed More Than 50 Countries to Cut Iran Aviation and Banking Ties, WSJ Reports
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