The US Treasury secretary, Bessent, has urged American partners to back plans aimed at crushing Iran's economy, framing the decision as a choice between supporting or opposing Washington, according to the BBC.
Key facts
- The US Treasury secretary, Bessent, urged US partners to back plans to 'squash' Iran's economy, according to the BBC.
- Bessent said allies will need to decide whether they 'are with us or against us'.
- The remarks were reported by the BBC on 20 August 2026.
The US Treasury secretary has called on American partners to support plans aimed at pressuring Iran’s economy, according to the BBC. In a report published on 20 August 2026, the secretary, Bessent, urged allies to back the effort to ‘squash’ the Iranian economy.
Bessent framed the appeal in stark terms, saying that allies will need to decide whether they ‘are with us or against us’, according to the BBC.
The BBC report focused on Bessent’s call to allies and his characterisation of the choice facing US partners. It did not provide further detail on the specific measures involved, their timing, or the response from individual partner nations, and did not set out how the plans would be implemented.
Why it matters
A US push to coordinate economic pressure on Iran could affect global markets and trade relationships, particularly for countries with ties to Tehran. The 'with us or against us' framing raises the stakes for allies weighing their own economic and diplomatic interests.
Frequently asked questions
What did Bessent ask US partners to do?
According to the BBC, the US Treasury secretary urged US partners to back plans to 'squash' Iran's economy.
How did Bessent frame the choice for allies?
He said allies will need to decide whether they 'are with us or against us', according to the BBC.