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Bessent Targets Iran’s Financial Links, Warns Dollar Access Loss

8/25/2026

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Summary

Story summary

Treasury Secretary Scott Bessent announced an onslaught on Iran's financial links, warning facilitators will lose U.S. dollar access.
Treasury officials said it could draw close to $1 trillion from the Treasury General Account to fund a bond-buyback program.
Wall Street opened lower as the S&P 500 fell 0.28% and Nasdaq dropped 0.76% while the Dow rose 0.26%.

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Story summary

Treasury Secretary Scott Bessent announced an onslaught on Iran's financial links, warning facilitators will lose U.S. dollar access.
Treasury officials said it could draw close to $1 trillion from the Treasury General Account to fund a bond-buyback program.
Wall Street opened lower as the S&P 500 fell 0.28% and Nasdaq dropped 0.76% while the Dow rose 0.26%.