Bessent: Iran in 'death throes,' US allies will support efforts to economically 'asphyxiate' IRGC

US Treasury Secretary Scott Bessent announced on Tuesday that US allies will support efforts to "economically asphyxiate" Iran, which he described as being in "economic death throes." Speaking after the G20 meeting, Bessent stated that he used the opportunity to garner support for Operation Economic Outcast, an initiative aimed at isolating Iran's economy. He noted that many allies expressed willingness to "do whatever is necessary." Bessent also mentioned "productive" and "intentionally quiet" discussions with Chinese officials, highlighting shared goals in preventing Iran from acquiring nuclear weapons and ensuring free trade in the Strait of Hormuz. He emphasized that the US can succeed in blocking Iran from converting Chinese yuan into USD, which would "starve" the Iranian regime, even without direct Chinese support for the operation.