Bessent says US pursuing "quiet diplomacy" as Treasury weighs new sanctions on nations tied to Iran

"We find that the best way to engage with countries is through quiet diplomacy, and we are level-setting with every country to tell them our expectations," Bessent said during a press conference. "We know who they are. They know who they are."

US Treasury Secretary Scott Bessent said on Monday (local time) that Washington is pursuing "quiet diplomacy" with countries that maintain economic ties with Iran, as the Trump administration considers new sanctions targeting Iran-related activities. "We find that the best way to engage with countries is through quiet diplomacy, and we are level-setting with every country to tell them our expectations," Bessent said during a press conference. "We know who they are. They know who they are."

The Treasury Department has expanded the categories of "Iran-related conduct" that could be subject to US sanctions in the future, covering sectors including digital assets, technology and shipping. The administration also plans to provide countries with specific timelines to end their relationships with Iran and said it would work with "counterparts around the world" to address activities linked to Tehran.

However, the US has so far stopped short of imposing the major new penalties it has threatened against countries continuing economic dealings with Iran, as per CNN. Bessent's remarks came a day after he warned in an op-ed that an "economic D-Day is coming for Iran". His comments followed similar warnings from US President Donald Trump, who has sought to increase economic pressure on Tehran and push it back towards negotiations.

On August 20, Trump announced a sweeping economic campaign against Iran and warned that countries providing financial, business, airport or government support to Tehran would face "tremendous economic consequences". "No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it," Trump said in a post on Truth Social.

"Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale," he added. Trump said the measures would target Iran's economic lifelines, including oil smuggling networks, financial transfers, exchange houses, ship registries and front companies.

"Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies -- It all needs to stop NOW," Trump said. He also warned that countries allowing their financial institutions, businesses, airports or government entities to provide support to Iran would face economic consequences.

"Today, I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences," Trump said. Trump urged US allies to join Washington in isolating Iran and said the measures would mark an "economic D-DAY".

"You know who you are. This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat," Trump said. He also reiterated Washington's position on Iran's nuclear programme.

"IRAN WILL NEVER HAVE A NUCLEAR WEAPON," Trump said. (ANI)