Can an ‘Economic D-Day’ End the Iran War?

**Jessica Mendoza** (0:06)
This week marks six months since the war with Iran started, a war that the US launched along with Israel and that President Trump initially said would last only weeks.

**SPEAKER_2** (0:16)
Right from the beginning, we projected four to five weeks, but we have capability to go far along.

**Jessica Mendoza** (0:24)
Now, as the war carries on with no end in sight, the US announced the beginning of a new phase, one led by Treasury Secretary Scott Bessent.

**Scott Bessent** (0:35)
In the Second World War, D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions.

**Jessica Mendoza** (0:47)
Yesterday, Bessent held a highly anticipated press conference to announce what he called an economic D-Day on Iran.

**Scott Bessent** (0:55)
In that same spirit, we are launching an economic onslaught against Iran's financial connections around the globe.

**Brian Schwartz** (1:05)
It was billed as a key moment in the larger war against Iran. There were dozens of reporters there.

**Jessica Mendoza** (1:12)
That's our colleague Brian Schwartz, who reports on economic policy.

**Brian Schwartz** (1:16)
It was supposed to be this moment for Secretary Bessent to kind of take a leading role in shaping how the US was going to respond against Iran's economy.

**Jessica Mendoza** (1:31)
And I mean, what do you make of the comparison with D-Day?

**Brian Schwartz** (1:34)
Well, I mean, D-Day, you think of, you know, Americans running on the beaches of Normandy, fighting the Nazis. This is a momentous hour in world history.

**Jessica Mendoza** (1:46)
This is the invasion of Hitler's Europe.

**Brian Schwartz** (1:50)
I don't think this is an apt comparison, but if you're the Trump administration, you need to show the world that you're willing to go pretty far in taking on Iran, and this is the latest piece of that.

**Scott Bessent** (2:02)
Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

**Jessica Mendoza** (2:13)
Bessent threatened the countries and entities still doing business with Iran with a new set of sanctions.

**Scott Bessent** (2:19)
We know who they are.
They know who they are.
So when the hammer of US. Treasury actions falls upon them, they will have no one to blame but themselves.

**Brian Schwartz** (2:31)
I think there's this sense that the military campaign is only doing so much to bring Iran to the table. Treasury Secretary and the president are moving to do this, which is kind of put an economic stranglehold on Iran in the hopes that they'll cry uncle and give in to the U.S.'s demands.

**Jessica Mendoza** (2:55)
I'm Jessica Mendoza. It's Tuesday, August 25th.
Coming up on the show, can this economic D-Day end the war with Iran?

**SPEAKER_5** (3:19)
This episode of The Journal is brought to you by Harvey, an AI platform designed for legal and professional service We'll. be right back. Thank you.
Thank you. Thank you.

**SPEAKER_6** (3:52)
This episode is brought to you by Indeed. The right hire can make or break your company, especially Especially if you're- a small business. And relying on luck to find that person isn't really the best strategy. But you know what is? Using indeed sponsored jobs. You can use it to boost your job post, to make sure it reaches more people with the right talents, certification, location and more. Sponsored jobs posted directly on Indeed are 95% more likely to report a hire than non-sponsored jobs. Spend less time searching and more time actually interviewing candidates who check all your boxes. Less stress, less time, more results. When you need the right person to cut through the chaos, this is a job for Indeed Sponsored Jobs. And listeners of this show will get a $75 sponsored job credit to help get your job the premium status it deserves at indeed.com/podcast.
Just go to indeed.com/podcast right now and support the show by saying you heard about Indeed here. indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed Sponsored Jobs.

**Jessica Mendoza** (4:56)
Brian, as we've said, the war in Iran has been going on for months. Why make this announcement now?

**Brian Schwartz** (5:02)
Well, I think the administration is on a little bit of political pressure. You know, we're heading into the midterms in a few months. This war is not really popular. Gas prices are still up. In most cases, I filled my tank to the day with regular gas. It was like somewhere around $4.45.
You know, so that's why I think they pushed out this idea of this being the next phase and trying to take on that country.

**Jessica Mendoza** (5:27)
So far, the US has struggled to bring the war to an end. A ceasefire that had been set up in June expired last week without the countries reaching a peace agreement. The Strait of Hormuz is operating at a fraction of what it was before the war began. In the meantime, according to Wall Street Journal reporting, the US's munitions stockpile is running low.