'End Game' on Iran? Bessent Lauds 'Financial Offensive' Targeting Tehran's Oil Trade, Cash Transfers
Paul Petitte : Aug 24, 2026
CBN News
Meanwhile, to Iran's north, Israeli and Syrian officials held rare direct talks on Sunday aimed at defusing tensions after Israel struck a Syrian airbase, alleging that Turkey's growing military presence there could threaten Israel.
(Jerusalem, Israel) — [CBN News] The United States is declaring an all-out economic war on Iran, calling it "The single greatest financial offensive ever marshalled against an adversary." The statement comes as the conflict enters its sixth month. (Screengrab image: via CBN News)
Today marks the beginning of what US Treasury Secretary Scott Bessent calls the "end game" on Iran, as the Trump administration shifts to a new phase of economic pressure against the Tehran regime.
President Trump observed, "We're seeing what happens. They have no money. They have no navy. They have no air force. They're not paying their soldiers. They're not paying their police. They have 350% inflation."
The president claims that the economic pressure now offers the best path to peace by targeting Iran's oil trade, its shadow tanker fleet, cash transfers, and any country still doing business with the Islamic Republic.
The pressure is also coming from the military. CENTCOM announced that US forces have now redirected 68 commercial vessels as part of the blockade of Iranian ports. Trump boasts that America has "total control" of the Strait of Hormuz.
Yet, Former Vice President Mike Pence told CNN's State of the Union that he thinks military action may be inevitable.
"I think it's essential we keep the pressure on, keep the military assets in the region because I think the time is going to come when the president and our ally Israel is going to have to finish the job."
Iranian President Masoud Pezeskhian says the expired US Memorandum of Understanding remains the best option to end hostilities, but Tehran's Security Council remains combative, threatening retaliation against countries taking part in the US pressure campaign.
US Ambassador to Israel Mike Huckabee compared the regime to a famous scene from Monty Python's movie, "Holy Grail."
"And he slices off both arms and legs of the Black Knight and the Black Knight continues to say 'Tis but a scratch.' That scene reminds me of Iran. No matter how many ways they get beaten to a pulp, they pretend they're okay."
Meanwhile, to Iran's north, Israeli and Syrian officials held rare direct talks on Sunday aimed at defusing tensions after Israel struck a Syrian airbase, alleging that Turkey's growing military presence there could threaten Israel.
US Ambassador to Lebanon Tom Barrack sparked controversy after criticizing the strike and saying Israel "still" occupies the Golan Heights, contradicting President Trump's 2019 recognition of Israeli sovereignty there.
Barrack later walked that back, saying US policy on the Golan is "unchanged."
And in Gaza, Israel is striking Hamas targets following the launch of kites toward Israeli communities.
Senior Israeli officials say the kites carried no explosives, but they believe Hamas may be testing Israel's response. Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz warned that continued launches will bring intensified retaliation.
Middle East analyst Emily Schrader noted that the Gaza kite threat isn't new.
"This is something that had been used by the Palestinians for quite some time, attaching explosives to these kites. What should be a children's toy has instead been used as a tool of terrorism," she said. Subscribe for free to Breaking Christian News here