New Delhi, 21 August 2026: US Treasury Secretary Scott Besant has said that Iran will face the greatest concerted economic isolationism in world history. In an interview, Scott Besant warned of imposing secondary sanctions on countries and companies doing business with Iran. He said that America's allies will now have to decide whose side they are with. US President Donald Trump had also threatened to destroy Iran's economy through economic measures.
Subsequently, Iran's Foreign Minister Abbas Araghchi issued these economic threats. In a social media post, Araghchi had said that this threat is being given to divert the attention of the American people from their internal financial problems.
Read more: Emphasis on strengthening India-Singapore economic partnership: Piyush Goyal