Tipsheet

Scott Bessent Just Escalated the Financial War on Iran

Dmitri Bolt
Dmitri Bolt  |  June 11, 2026 2:00 PM

The Secretary of the Treasury, Scott Bessent, just revealed that not only is Iran facing increased military pressure, as the United States has resumed striking military targets in the country, but that the financial pressure has been stepped up as well. He stated that any damage inflicted on Gulf countries, or any tolls charged to commercial vessels in the region, would be paid using Iranian money held in their own seized or frozen accounts.

"The Iranian regime will lose the zero-sum game it is playing. Any damage it inflicts on our allies in the Gulf will be paid for with funds extracted from Iranian Accounts," the Treasury Secretary wrote on X. "Any tolls paid to the Persian Gulf Strait Authority will be offset by funds extracted from their accounts. Every attack Iran launches will only deepen the economic and financial consequences it faces."

This comes as the United States has resumed striking military targets in Iran after it shot down an American Apache helicopter over the Strait of Hormuz earlier this week. President Trump signaled that the time for negotiations may also be over, as targeting Iranian critical infrastructure, including bridges and electrical plants, is back on the table. He also said the U.S. will be "taking" Kharg Island in the “not so distant future.”

Iran has thus far retaliated by launching missiles and drones at neighboring Gulf states, including Kuwait, Bahrain, and Jordan, which said they have successfully intercepted Iranian munitions.