The Trump administration has announced a sweeping campaign it described as a global economic war on Iran, according to Al Jazeera. The reporting, published on August 24, 2026, framed the move as a significant escalation in Washington’s economic pressure on Tehran.

The US says it is targeting all of Iran’s sources of revenue, including oil, according to Al Jazeera. Oil exports are central to Iran’s economy, and measures aimed at that sector would strike at one of the government’s principal sources of income.

Treasury Secretary Scott Bessent said US sanctions will intensify to choke off Iran’s revenues and isolate the country, according to Al Jazeera. His comments signalled that the administration intends to expand existing restrictions rather than introduce a single, one-off measure.

Al Jazeera reported that officials characterised the sanctions as an ‘economic D-day’, underscoring the scale of the action the administration says it is pursuing. The phrasing points to an intended broad and coordinated push against Iran’s finances.

The announcement was reported as a breaking news story, and the available details remain limited. Further specifics on the exact measures, their timing and any international coordination were not provided in the initial reports.